Jefferies has initiated a “Buy” rating on TBO Tek with a target price of Rs 2,000, highlighting the company’s expansion in the global market. Known for its B2B platform focused on outbound travel, TBO Tek’s growth is primarily driven by its margin-accretive hotels business. Jefferies points out that TBO Tek is well-positioned to consolidate the fragmented travel market, making it relatively resilient to recent moderation in global travel growth.
The brokerage anticipates a robust 31% CAGR in profit after tax (PAT) for TBO Tek over the FY24–27 period, underscoring the company’s potential for substantial growth despite headwinds in the travel sector.
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TBO Tek