UPDATE: Morgan Stanley Initiates Coverage On Sabre As Core Growth Is Poised For Inflection

In a report published Tuesday, Morgan Stanley analyst Keith Weiss initiated coverage on Sabre SABR with an Overweight rating and $22.00 price target. In the report, Morgan Stanley noted, “Sabre is well-established with $3bn in revenue, mid to high single-digit core growth, 25%+ EBITDA margins and, at 8.2x 2015e EBITDA, while trading at a discount to Amadeus. As SABR is poised for accelerating growth and earnings into 2015, we see 29% upside to our $22 price target.” Sabre closed on Friday at $17.09.