CTM's Problems Are Far Worse Than Expected -- Market Talk

Dow Jones11-28

2318 GMT - Corporate Travel Management's problems are far worse and more widespread than RBC Capital Markets analyst Wei-Weng Chen had expected. Chen tells clients in a note that CTM previously said that only its Europe operation was affected but has now disclosed that its Australia and New Zealand business has issues. He reckons that the Australian company may need to restate and even refund up to a third of its European revenues for the past three years. This could have a significant cash impact, he adds. RBC has a last-published sector perform rating and A$15.00 target price on the stock, which last traded in August at A$16.07. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

November 27, 2025 18:18 ET (23:18 GMT)

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He reckons that the Australian company may need to restate and even refund up to a third of its European revenues for the past three years. This could have a significant cash impact, he adds. RBC has a last-published sector perform rating and A$15.00 target price on the stock, which last traded in August at A$16.07. 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Chen tells clients in a note that CTM previously said that only its Europe operation was affected but has now disclosed that its <a href=\"https://laohu8.com/S/AN3PF.AU\">Australia and New Zealand</a> business has issues. He reckons that the Australian company may need to restate and even refund up to a third of its European revenues for the past three years. This could have a significant cash impact, he adds. RBC has a last-published sector perform rating and A$15.00 target price on the stock, which last traded in August at A$16.07. 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