- HC Wainwright & Co. analyst Scott Buck maintained his buy rating on shares of Yatra Online Inc. (NASDAQ: YTRA), with a price target of $4.
- The analyst said that although fourth quarter results were negatively impacted by the Omicron variant in January, demand was at 90.0% of pre-COVID levels for leisure and business travel in May.
- Related: Yatra Online Shares Fall After Fourth Quarter Results; sees recovery in business and consumer businesses
- Scott also noted that the company has indicated that its business travel recovery is currently outpacing the industry, which is a positive.
- As travel demand returns and even exceeds pre-pandemic levels, he believes cost reductions over the past two years should help generate significant operating leverage in the business.
- Scot added that an Indian IPO could potentially unlock significant value for US shareholders and serve as a significant catalyst for YTRA shares.
- He expects investors to become more constructive on YTRA shares as travel demand continues to rise and the pandemic subsides.
- Price Action: YTRA shares are trading up 2.65% at $1.94 when last checked on Monday.
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