BofA lowered the firm’s price target on Sabre to $3 from $4.50 and keeps a Neutral rating on the shares. The firm finds Q1 and FY24 guidance “undemanding,” noting that its estimates are 3.4% and 4.5% above guidance on revenues and 11% and 10% above EBITDA guidance, respectively. However, the firm lowered its outer year estimates and tweaked terminal growth to 0.5% from 1% previously, primarily driven by slower distribution growth in the long-term, leading to its decreased price target.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SABR:
- Jefferies EMEA software analyst to hold analyst/industry conference call
- Sabre’s intelligent solution Air Price IQ adopted by Latam Airlines
- Sabre Expands Securitization Facility and Extends Maturity to 2027
- Sabre renews technology partnership with HotelREZ
- Sabre launches new booking solution, Sabre Red Launchpad
