Mondee price target lowered to $10 from $13 at Roth MKM

Roth MKM analyst Darren Aftahi lowered the firm’s price target on Mondee to $10 from $13 and keeps a Buy rating on the shares. The company’s Q2 results were mixed as higher take rates were offset by higher operating expenditures, the analyst tells investors in a research note. The analyst expects improved take rates going forward via Mondee’s content diversification, but says it may take some time to see the impact of the company’s marketing efforts.