Goldman Sachs initiates coverage on TBO Tek with a 'buy' rating, citing growth potential from M&A, sales model, and the 'Affluent India' theme.

Goldman Sachs initiated coverage on TBO Tek, a global B2B travel distribution platform, with a 'buy' rating and a target price of ₹1,970 per share. They anticipate strong growth due to the company's strategy of consolidating supply and demand through mergers and acquisitions, a high-demand foot-on-street sales model, and benefiting from the 'Affluent India' theme. Goldman Sachs forecasts a 30% to 33% compounded annual growth rate in EBITDA and net income from FY24 to FY30.

June 24, 2024
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