Analysis of Corporate Travel Management, Kogan.com
Fund Manager Chris Pedersen discusses Tuesday's RBA update, exports and imports, Corporate Travel Management and Kogan.com.
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Corporate Travel Management (CTM) is a global leader in business travel management services. We drive savings, efficiency and safety to businesses and their travellers all around the world.
If you are looking for a tailored travel management solution, delivering customer service excellence, innovative technology and a demonstrable return on investment, then you’ve come to the right place.
Fund Manager Chris Pedersen discusses Tuesday's RBA update, exports and imports, Corporate Travel Management and Kogan.com.
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The Outperform rating is retained and the target price decreases to $25.80 from $26.70.
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After a strong run for Corporate Travel Management's share price, Citi downgrades its rating to Neutral from Buy. The target falls to $25.49 from $28.05.
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The broker maintains that Corporate Travel Management remains one of the best performing travel stocks. The Buy rating and target price of $28.20 are retained.
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Morgans target price rises to $29 from $27.36. The Add rating is unchanged.
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Forecasts and the Add rating are left unchanged and the target price to $$27.36 from $25.25.
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Macquarie upgrades to Outperform from Neutral. Target is raised to $20.75 from $20.05.
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Two updates yesterday from mid-level operators Helloworld and Corporate Travel Management suggest a rising degree of optimism about the future for the travel industry.
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Morgans has resumed coverage of Corporate Travel Management. To avoid confusion for our readers, prior to a blackout period of coverage the broker rated the company as a Hold with a $14.20 price target. Given the hiatus in coverage, FNArena will consider this update as a pseudo initiation of coverage, with an Add rating and target price of $20.50.
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Corporate Travel Management has raised the $375 million needed to finance the purchase of US firm Travel & Transport Inc. CTM will acquire 100% of Omaha-based Travel & Transport for a cash and debt-free enterprise value of about $US200 million (around $A283 million).
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