Corporate Travel Management (CTD) provides travel management services to corporates in Australia, North America, Europe and Asia. The company differentiates itself from competitors through its superior technology offering and its return on investment focus – which aims to reduce clients’ overall travel spend. CTD has rallied over +43% year to date helped by a large contract win in the UK last month which highlighted the strength of the UK business plus the way CTD is regarded by the UK Gov. – we estimate a potential upside of +10-13%, from the contract which has been reflected by the share price.
- Again the chart pattern of CTD and RWC is almost a carbon copy as a quality business enjoys a solid recovery.
- We like CTD into $2-$3 pullbacks with the stock looking well positioned through 2023.
MM is neutral to bullish on CTD
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