2358 GMT - Corporate Travel Management's guidance downgrade was not entirely unexpected given recent results from U.S. airlines, Citi analyst Samuel Seow says. He points out that, while the A$167 million in annual Ebitda implied by the new guidance is 15% lower than the average analyst forecast, the stock has already fallen materially. Seow writes in a note that U.S. corporate volumes have probably fallen in a percentage in the mid-single digits, leading to fewer transactions and missed override tiers. Citi has a last-published buy rating and A$17.55 target price on the stock, which is at A$13.00 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 19:58 ET (23:58 GMT)
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