Citi cuts PT, earnings estimates on NZ-listed online booking firm Serko

Serko

01/05/2024 23:13

** Analysts at Citi lower price target on NewZealand-listed
Serko Ltd  SKO.AX   SKO.NZ  to A$4 from A$4.90
    ** Lowers EBITDA loss estimates on the online booking
company for FY24-FY26 by NZ$1 mln ($592,400.00) to NZ$3 mln
    ** Expects co to recognize lower revenue share from its
partnership with rival firm Booking.com 
    ** Brokerage expects a weaker H2 performance by SKO as well
as lower revenue share over the medium term 
    ** Serko stated there are some major strategic partnerships
expected to be announced in next couple of months which could
represent upside to our medium-term forecasts, says Citi,
maitains "buy"
    ** Stock has fallen 15.3% YTD, as of last close

($1 = 1.6880 New Zealand dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))