Stock Name: Asiatravel
Company Name: ASIATRAVEL.COM HOLDINGS LTD
Research House: DBS Vickers
Changes reflect online hotel reservation group’s improving fundamentals amid increasing tourist-arrivals to Singapore, Thailand. Says increased sales of tickets to Universal Studios Singapore, better utilization of its shuttle buses to Resorts World Sentosa bode well for company.
Company Name: ASIATRAVEL.COM HOLDINGS LTD
Research House: DBS Vickers
DBS Vickers upgrades Asiatravel.com (5AM.SG) to Buy from Hold, lifts target price to $0.63 from $0.53, based on 20X FY11 earnings, to align with mid-cycle valuations, says Dow Jones.
Changes reflect online hotel reservation group’s improving fundamentals amid increasing tourist-arrivals to Singapore, Thailand. Says increased sales of tickets to Universal Studios Singapore, better utilization of its shuttle buses to Resorts World Sentosa bode well for company.
Tips company as acquisition target for larger non-Asian Internet travel portals; “Asiatravel’s debt-free balance sheet, proprietary software, in-house development capabilities, physical presence in key geographies and long-standing relationships with hoteliers are other key attractions.”
Shares +1.1% at $0.475
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