Sabre price target lowered to $4 from $5 at Mizuho

Mizuho analyst Matthew Broome lowered the firm’s price target on Sabre to $4 from $5 and keeps a Neutral rating on the shares. The analyst sees a “number of puts and takes around software” heading into the Q3 reports. On the positive side, the firm’s channel checks indicate more evidence of stabilization, artificial intelligence monetization is getting closer to reality, and compares begin getting meaningfully easier for many companies. However, the timing of a macroeconomic recovery remains elusive, geopolitical risk has increased, and equity markets have been choppier, the analyst tells investors in a research note. The firm continues to find the risk/reward attractive over the medium-term for the group.