Australia's SiteMinder rises; Jefferies says travel reopening after Mideast war to benefit company
BUZZ-Australia's SiteMinder rises; Jefferies says travel reopening after Mideast war to benefit company Updates
** Shares of SiteMinder SDR.AX rise as much as 5.6% to A$4.12 in early trade, their highest point in nearly a week
** Stock logs its largest intraday pct gain since June 29
** Jefferies says a recovery in travel demand despite the Middle East turmoil would be supportive for company, given the growing contribution of transaction revenue to group earnings
** Brokerage expects hotel and accommodation platforms provider to generate its maiden positive NPAT in 2H26 and to maintain it in FY27
** Jefferies notes SiteMinder has lagged its online travel agency peers so far this year, with fears over AI disruption and stock's removal from ASX 200 likely contributing to underperformance
** Also flags that SiteMinder has generated positive free cash flow for two consecutive half-years and believes company can keep costs under control as the business grows
** Stock down 32.2% YTD, including the day's moves
(Reporting by Nikita Maria Jino in Bengaluru)
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