2242 GMT - The risks facing Corporate Travel Management over the problems at its U.K. business turn its bull at Shaw & Partners into a bear. Analyst Philip Pepe cuts his recommendation to sell from buy, pointing to the material financial impacts and potential reputational damage from the revenue reversals the Australia-listed company says it needs to make. Pepe makes no changes to his earnings forecasts because CTM has yet to finalize the amounts involved. However, a 50% discount applied to his valuation slashes Shaw's target price to A$7.60, from A$15.20. Shares last traded in August at A$16.07. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 30, 2025 17:42 ET (22:42 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.