CTD – Morgans rates the stock as Overweight

Morgan Stanley expects Corporate Travel to deliver on its FY16 and FY17 forecasts. FY16 guidance has been reiterated at the same time other travel names were guiding the market lower. The broker expects new contract wins and a lower Australian dollar should provide upside into FY17.

Morgan Stanley retains an Overweight rating, upgrading earnings estimates by 9-10% for FY17-18. Target is raised to $16.00 from $14.40. Industry view: In-Line.

Sector: Consumer Services.

Target price is $16.00.Current Price is $14.39. Difference: $1.61 – (brackets indicate current price is over target). If CTD meets the Morgan Stanley target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →