UBS initiated coverage of Global Business Travel (GBTG) with a Buy rating and $11 price target The firm likes Global Business as a category leader that is 39% larger than its next biggest competitor and services 13% of managed business travel spend. The company should achieve its long-term adjusted EBITDA margin target of 25% by 2027 through cost discipline and automation, and the shares look attractive now given optionality around buybacks and the ongoing shift to managed travel, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GBTG:
- Global Business Travel Challenges U.K. Competition Authority
- Global Business Travel comments on CMA interim report on CWT acquisition
- Global Business Travel price target raised to $9.10 from $7.60 at Deutsche Bank
- Global Business Travel Group Reports Strong Q3 Results
- Global Business Travel cuts FY24 revenue view to $2.42B-$2.44B from $2.43B-$2.5B