SDR is a $1.5bn open hotel commerce platform, offering accommodation providers various solutions across the guest lifecycle, including distribution, bookings, operations management and business intelligence. Management continues to target impressive +30% medium-term organic revenue growth. We like their core offering, and upside beats wouldn’t surprise us. In March, we said that we like SDR back around $5, and after holding that level, we would behappy buyers at current levels, ~$5.20.
- We, like SDR, believe it’s setting the foundations for medium-term solid growth; our initial target is in excess of $6.
MM is bullish toward SDR ~$5.20
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