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/
