- H.C. Wainwright & Co analyst Scott Buck maintained its Buy rating on the shares of Yatra Online Inc (NASDAQ: YTRA), with a price target of $4.
- The analyst said though Q4 results were negatively impacted by the Omicron variant in January, demand was at 90.0% of pre-COVID levels across both leisure and corporate travel as of May.
- Related: Yatra Online Shares Drop Following Q4 Results; Sees Recovery In Corporate, Consumer Businesses
- Scott also noted that the company indicated that its recovery in corporate travel is currently outpacing the industry, which is a positive aspect.
- As travel demand returns to and even exceeds pre-pandemic levels, he believes cost-cutting over the past two years should help drive significant operating leverage in the business.
- Scot added that an Indian IPO could potentially unlock significant value for U.S shareholders and serve as a meaningful catalyst for YTRA shares.
- He expects investors to become more constructive on YTRA shares as travel demand continues to increase and the pandemic has faded.
- Price Action: YTRA shares are trading higher by 2.65% at $1.94 on the last check Monday.
