MMYT - MakeMyTrip stock gains as Morgan Stanley upgrades on resilient margins

• MakeMyTrip ( NASDAQ: MMYT ) shares gained on Thursday after Morgan Stanley upgraded the stock from "Equal Weight" to "Overweight", praising the firm's resilient margins despite increased ad spending.
• Analyst Gaurav Rateria wrote, "spending on ads has risen for all online travel agencies as travel returns to pre-Covid levels, but MakeMyTrip is keeping market share without diluting its Ebit margins."
• He anticipates adjusted Ebit margin of ~1% in the second half of fiscal 2023, with a steady-state margin of 1.9% by fiscal 2027.
• SA Quant system and authors rate the India-based online travel company as hold .
• Shares are up 3% today

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