Citi upbeat on NZ's Serko on higher web traffic

Serko

10/01/2024 22:18

** Analysts at Citi see upside for New Zealand's business
travel booking co Serko  SKO.NZ  on accelerating web traffic
    ** Brokerage says time spent on the website for SKO's 
Booking.com for Business platform in Dec. qtr increased 122%
year-on-year, whereas engaged web visits were up 44% 
    ** "While it is difficult to extrapolate number of completed
room-nights from web visits ... we see the recent trends as
positive"- Citi
    ** SKO shares rise as much as 0.7% to NZ$4.060
    ** Brokerage flags lower European room-rates, along with a
stronger New Zealand dollar vs the Euro, as headwinds for SKO 
    ** Four of seven analysts rate the stock "buy" or higher and
three "hold"; their median PT is NZ$4.95 – LSEG data
    ** SKO rose 80% last year

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))