Excellent news for Sabre (SABR) shareholders.
The $6 billion global travel technology company company just posted a beat and raise on revenue and free cash flow. During the earnings call, the company’s new technology platform featured front and center.
Shares are up over 7% since he issued his LONG call on January 24.
For the record, he sees 25% additional upside on 2018 factors alone. He adds that 2019 looks better, but needs more data to confirm.
Additional items of interest.
- We were loud Sabre bears for 2 years and had it on the Short side whole way
- We switched from Bear to Bull a few weeks ago and hosted a Black Book called “Short to Long” on Feb 2
- We think there is more upside ahead, including elements that really just qualitatively are coming to light now (but provide material for quantitative upside exiting 2018 into 2019)
- On a 2018 basis we previewed valuation in the $18-28 range, ie risk/reward. We got the risk part right away with the market volatility, and now we are heading toward the reward
- On a 2019 basis we can see that valuation range moving higher.
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