Report
Dan Wasiolek
EUR 101.80 For Business Accounts Only

Travelport invests further into its platform, supporting its network and efficient scale advantages.

We plan to reduce our $18 fair value estimate by $1 to incorporate higher spending over the next few years and lower revenue in 2017 driven by currency and divestitures. We see shares as undervalued, trading at around 10 times the midpoint of management’s 2017 adjusted earnings guidance of $1.29-$1.37, and we believe that long-term investors should have Travelport on their radar.
Travelport plans to increase investment, but we don’t believe this is a signal that the company is losing share, but ...
Underlying
Travelport Worldwide Ltd.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Dan Wasiolek

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