Corporate Travel Bears Warn Customers Could Walk -- Market Talk
Dow Jones12-01
2335 GMT - Corporate Travel Management's new bears at Macquarie warn that the Australian company faces material downside risks to future revenue and earnings from the overcharging by its U.K. unit. Lowering their recommendation to underperform from neutral, the Macquarie analysts point to the potential loss of existing customers, increased challenges in winning new contracts, and the chance that rectification costs increase further. They cut the midpoint of their Ebitda valuation multiple range to 7x from 10x. Target price falls by 27% to A$11.50. Shares last traded in August at A$16.07. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 30, 2025 18:35 ET (23:35 GMT)
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