On Monday, BofA Securities adjusted its outlook on Sabre (NASDAQ:SABR) Corporation (NASDAQ:SABR), a leading technology provider to the global travel industry, by reducing the company’s price target to $3.00 from the previous $4.50. Despite this change, the firm maintained a Neutral rating on the stock.
The revision follows Sabre’s recent guidance for the first quarter and full year 2024, which the analyst found to be not particularly challenging. BofA Securities’ revenue estimates are 3.4% and 4.5% higher than Sabre’s guidance for Q1 and FY24, respectively.
The firm also projects that earnings before interest, taxes, depreciation, and amortization (EBITDA) will surpass the company’s guidance by approximately 11% for Q1 and 10% for the full year.
The more optimistic forecasts are based on an expectation of a 4.1% increase in bookings volume for the full year 2024, which contrasts with Sabre’s own projection of flat year-over-year growth.
Despite the positive outlook on…