BUZZ-Brokerages cut outlook for Australia's Corporate Travel Management

Reuters
05-05
BUZZ-Brokerages cut outlook for Australia's Corporate Travel Management

Adds price moves, brokerage comments

May 4 (Reuters) - ** Travel services provider Corporate Travel Management CTD.AX falls 0.3% to A$11.67

** Citi lowers FY25-FY27 EBITDA forecast 10%-14%

** Cuts PT to A$15.65; retains "buy"

** Co expects FY25 group EBITDA to be ~A$30 mln ($19.3 mln) lower than its previously announced target, citing impact of economic, tariff uncertainty

** Sees FY25 group revenue ~4% softer than earlier forecast

** Morgan Stanley cuts PT to A$11.80 from A$15.30; downgrades to "equal-weight" from "overweight"

** Sees near-term earnings risk on co's lowered FY25 revenue, earnings forecasts

** Stock rated "buy" on avg; median PT is A$15.21, per data compiled by LSEG

** CTD falls ~12% YTD

($1 = A$1.5540)

(Reporting by Nichiket Sunil and Jasmeen Ara Shaikh in BengaluruEditing by Rod Nickel)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))

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