Sabre upgraded to Market Perform from Underperform at Bernstein

Bernstein upgraded Sabre (SABR) to Market Perform from Underperform with a price target of $3.50, down from $3.60. Reuters reported the company has engaged Evercore to explore a sale of its hospitality suite SynXis, the analyst tells investors in a research note. The firm sees the move as a potential positive catalyst for the shares. However, a more positive stance on Sabre would require a successful sale and better commercial momentum in the remaining businesses, adds Bernstein. It says remaining Underperform on the stock would require conviction in this being a cyclical downturn for airlines, which the firm does not currently see.