- Credit Suisse analyst Stephen Ju initiated coverage on Global Business Travel Group Inc (NYSE:GBTG) with an Outperform rating and announced a price target of $9.
- There is a secular trend among Small and Medium Enterprises (SMEs) to shift travel expenses from unmanaged channels into Travel Management Companies (TMCs).
- TMCs, the analyst says, have the realized benefits of cost savings, better access to inventory/content, fulfillment of safety/well-being requirements, and greater compliance/control over spending.
- The acquisition of Egencia and Ovation has positioned the company as the market leader within the SME opportunity, notes Stephen Ju.
- Risks for the company, the analyst cited, may include competition with other travel management companies, slower-than-expected SME migration to managed business travel, macroeconomic uncertainty, ongoing effects from COVID-19, and greater secular use of videoconference technologies as a substitute product.
- Price Action: GBTG shares are trading higher by 5.03% at $5.85 on the last check Friday.
TELUS Corp 2024 Guidance: TTech Operating Revenue Growth of 2%-4%, Free Cash Flow of $2.3B, Capex of $2.6B
TELUS sets 2024 financial targets
TELUS' financial targets for 2024 are guided by a number of long-term financial objectives, policies and guidelines, which are detailed in Section 4.3 of the 2023 annual
