New Zealand's Serko falls as Citi sees impact from weaker room rates, firmer currency

Serko

14/03/2024 03:50

** Shares of online travel booking firm Serko  SKO.NZ  down
1.6% at NZ$3.80
    ** Analysts at Citi believe Serko will hit its FY24
estimated revenue outlook, but see downside risk to Visible
Alpha consensus, which forecasts co achieving top-end of
forecast range
    ** Citi says co can be impacted due to weaker room rates and
a stronger NZ Dollar  
    ** Citi, however, says a turnaround element is the renewal
of the contract with Booking.com, with an update expected at or
prior to the FY24 result
    ** Four of seven analysts rate the stock "buy" or higher and
three "hold"; their median PT is A$5.00 – LSEG data
    ** Serko stock down 4.7% YTD, as of last close

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))