Mizuho lowered the firm’s price target on Sabre to $3 from $4 and keeps a Neutral rating on the shares. Based on management’s downward revision of its sequential booking growth outlook, the firm cut fiscal 2024 revenue estimates by 1%. The analyst believes Sabre would need to incur higher expenses to accelerate product innovations to drive booking growth.
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Read More on SABR:
- Sabre announces multi-year agreement with Duluth Travel
- Sabre initiated with an Overweight at Cantor Fitzgerald
- Sabre’s fourth quarter and full year 2023 earnings materials available on its Investor Relations website
- Sabre sees Q1 revenue $750M, consensus $787.53M
- Sabre sees FY24 revenue $3B, consensus $3.18B
