For Sabre, high praise from its underwriters — plus, Travelocity may regain profitability
Today eight securities firms initiated analyst coverage of Sabre Holdings, the travel technology firm, which had its initial public offering last month.
Four of the company’s underwriters, which had to wait until a few weeks passed to initiate coverage, trumpeted Sabre’s stock with buy or overweight calls. Their price targets for one year from now ranged from $17 to $22.
While a so-called Chinese Wall divides the banks’ underwriting arms from their equity research sides, investors generally anticipate positive analyst reports from a firm’s underwriters — at first, anyway.
Still, the positive reception may anticipate an overall upward narrative. Sabre’s stock (SABR) rose about 3% this morning above its listing price of $16 on April 16 and its opening at $16.80.
Read full story at: http://www.tnooz.com/article/analysts-initiate-coverage-sabre-buy-ratings/