Sabre downgraded to Neutral from Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan downgraded Sabre (SABR) to Neutral from Overweight with a price target of $4, down from $5, after assuming coverage of the name. Cantor expects fiscal 2025 revenues to accelerate modestly and remain in the mid single digit range, driven by sustained market share in Air Distribution and acceleration in IT and Hospitality Solutions revenue streams, the analyst tells investors. Margins should expand in FY25, driven largely by tech transformation and strategic initiatives to increase efficiencies in a relatively stable macro environment, the firm adds.