Corporate Travel Management Ltd
CTD: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$52.00 | Tzt | Jlytdmgc |
Corporate Travel: Look Beyond the Medium-Term European Earnings Siesta
We trim our fair value estimate for Corporate Travel by 2% to AUD 20 per share, reflecting a downgrade to our medium-term forecasts for Europe. However, shares in the no-moat group remain cheap, trading at an 18% discount to our intrinsic assessment.