Here's Why Credit Suisse Sees Sharp Upside In This Travel Platform

Shivani Kumaresan

September 30, 2022

Credit Suisse analyst Stephen Ju initiated coverage on Global Business Travel Group Inc (NYSE:GBTG) with an Outperform rating and announced a price target of $9.
There is a secular trend among Small and Medium Enterprises (SMEs) to shift travel expenses from unmanaged channels into Travel Management Companies (TMCs).
TMCs, the analyst says, have the realized benefits of cost savings, better access to inventory/content, fulfillment of safety/well-being requirements, and greater compliance/control over spending.
The acquisition of Egencia and Ovation has positioned the company as the market leader within the SME opportunity, notes Stephen Ju.
Risks for the company, the analyst cited, may include competition with other travel management companies, slower-than-expected SME migration to managed business travel, macroeconomic uncertainty, ongoing effects from COVID-19, and greater secular use of videoconference technologies as a substitute product.
Price Action: GBTG shares are trading higher by 5.03% at $5.85 on the last check Friday.

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