Citi sees move into revenue management as a logical step for Siteminder, raises PT

SiteMinder

05/10/2023 21:38

** Analysts at Citi see move into revenue management system
(RMS) as a logical step for Australian hotel commerce platform
Siteminder  SDR.AX  as it continues SDR's evolution from being a
single product offering to a hotel tech platform
    ** Raises target price to A$5.50 from A$5.20 which primarily
reflects earnings upgrades over the medium term; reiterates
"buy" rating 
    ** Says RMS represents a relatively unpenetrated opportunity
and plays into SDR's strengths
    ** Adds that move into RMS should be positive for SDR's unit
economics as ARPU is typically higher
    ** 11 of 15 analysts rate the stock "buy" or higher, three
"hold" and one "sell"; their median PT is A$5.10 – LSEG data
        ** SDR stock up 49.3% YTD, as of last close 

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))