ixigo Shares Rally 3% After JM Financial Initiates Coverage With ‘Buy’

ixigo Shares Rally 3% After JM Financial Initiates Coverage With ‘Buy’

SUMMARY

Shares of travel tech major ixigo jumped nearly 3% to INR 146.90 apiece during the intraday trading on the BSE today (January 14)

The rally in the stock came after JM Financial initiated coverage on the stock with a 'buy' rating, saying ixigo is the emerging dark horse in the online travel agency (OTA) market

The brokerage gave it a price target price of INR 180, which implies an upside potential of 26% from the stock’s previous close

Shares of Ixigo jumped nearly 3% to INR 146.90 apiece during the intraday trading on the BSE today (January 14) after brokerage JM Financial initiated coverage on the stock with a ‘buy’ rating, saying the company is the emerging dark horse in the online travel agency (OTA) market.Analysts at JM Financial noted that despite being a late entrant, ixigo is currently the second-largest and fastest-growing OTA in India in terms of gross transaction volume.

The brokerage set a price target price of INR 180 for ixigo, which implies an upside potential of 26% from the stock’s previous close of INR 142.90.

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