5 Cheap Travel Stocks to Buy Now

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In this article, we discuss 5 cheap travel stocks to buy now. If you want to see more stocks in this selection, check out 12 Cheap Travel Stocks to Buy Now.

5. Makemytrip Ltd (NASDAQ:MMYT)

Upside Potential: 32.70%
Price target: $39
Number of Hedge Fund Holders:12

MakeMyTrip Ltd (NASDAQ:MMYT) is one of the companies that has seen its fortune improve with growth in the tourism industry. As a provider of travel products and solutions in India, the U.S., Singapore Thailand, among other top travel destinations, it continues to elicit booming business. After reporting an operating loss of $18 million in 2021, the company bounced back to an operating profit of $70.3 million in fiscal 2023. The bounce back to profitability comes from benefiting from government policies aimed at boosting travel and tourism.

Consequently, analysts remain bullish about the stock, with an average price target of $39, implying a 32.70% upside potential from current levels.

In the first quarter of 2023, 12 hedge funds had stakes worth $85.86 million in Makemytrip Ltd (NASDAQ:MMYT). In addition, Marshall Wace LLP held 1.26 million shares of Makemytrip Ltd (NASDAQ:MMYT) shares, valued at $30.91 million, making it the company’s most significant stakeholder.

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