PROS Holdings Set To Benefit From Earlier Recovery In Air Travel, Predicts Analyst
Portfolio Pulse from Anusuya Lahiri
Needham analyst Scott Berg has reiterated a Buy rating for PROS Holdings Inc (NYSE:PRO) with a $35 price target. This follows a review of recent IATA air traffic passenger data, which suggests air travel demand is ahead of current projections. IATA predicts total passenger traffic will return to pre-pandemic levels in 2024, a year earlier than prior expectations. This is expected to benefit PROS as its travel customers restart pricing-related software investments.
June 29, 2023 | 5:15 pm
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POSITIVE IMPACT
PROS Holdings Inc is expected to benefit from the earlier recovery in air travel. The company's travel customers are likely to restart pricing-related software investments.
The news of an earlier recovery in air travel is directly beneficial to PROS Holdings as it suggests that their travel customers will restart their software investments. This is likely to increase the company's revenues and profitability, which could lead to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100