2317 GMT - Corporate Travel Management's achievable annual guidance and the constructive outlook commentary of the Australian travel manager's peers strengthen Morgan Stanley analysts' bullish view of the stock. The analysts say that Corporate Travel's fiscal first-half performance means that it needs to generate 61% of annual Ebitda in its second half to hit guidance. This compares with 65% originally flagged by the company, they point out in a note to investors. Rival Flight Centre's view that its own 35/65 Ebitda skew is very achievable further supports confidence in industry conditions at MS. MS has an overweight rating and A$18.30 target price on Corporate Travel shares, which are at A$15.87 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 18:17 ET (23:17 GMT)
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