Morgans notes that, unlike its peers, Corporate Travel Management generated positive earnings (EBITDA) in the 1Q. The broker expects activity will continue to strengthen as key borders reopen.
The analyst notes Europe was particularly impressive, returning to pre-covid profitability on only 80% of the activity. Forecasts and the Add rating are left unchanged and the target price to $$27.36 from $25.25.
Sector: Consumer Services.
Target price is $27.36.Current Price is $24.24. Difference: $3.12 – (brackets indicate current price is over target). If CTD meets the Morgans target it will return approximately 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
