BofA upgraded Sabre (SABR) to Buy from Neutral with a price target of $6.10, up from $4.50. The firm believes near-term risks on disintermediation and share loss have further eased and its conviction on FY25 guidance also grew post Q4 results, the analyst tells investors. The firm now views Sabre’s path to achieving its EBITDA and free cash flow targets as more achievable with major wins supporting top-line to grow at a 7% compound annual growth rate from FY24-26, driving 22% adjusted EBITDA CAGR growth, the analyst added.
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