Jefferies Remains Bullish as Sabre (SABR) Announces CEO Resignation

June 21, 2016 7:48 AM EDT
Get Alerts SABR Hot Sheet
Price: $7.53 +0.80%

Rating Summary:
    7 Buy, 6 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 19 | New: 11
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Jefferies reiterated a Buy rating and $33.00 price target on Sabre Corporation (NASDAQ: SABR) following the company's announced resignation of CEO Tom Klein. Klein intends to resign by the end of 2016. The Board will use the next 6 months to conduct a search for a successor.

Analyst Jason Kupferberg commented, "Earlier, SABR announced that current CEO Tom Klein intends to resign by 12/31/16. While we view this development as surprising, we believe the situation is quite manageable, given: 1) an orderly 6-month transition period is planned, 2) SABR reiterated its 2016 and medium-term guidance, 3) we believe SABR has a deep bench of management talent."

For an analyst ratings summary and ratings history on Sabre Corporation click here. For more ratings news on Sabre Corporation click here.

Shares of Sabre Corporation closed at $27.21 yesterday.

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