TBO Tek shares jumped over 7% in early morning trade following a bullish note from Jefferies, which reaffirmed its positive stance on the company. The brokerage raised the target price to ₹1,800 per share while maintaining a buy recommendation. As of 9:26 AM, the shares were trading 7.20% higher at Rs 1,653.10.
Jefferies highlighted TBO Tek’s recent acquisition of Classic Vacations, a US-based luxury travel wholesaler, for $125 million at 11 times EV/EBITDA. This marks TBO Tek’s first major deal since acquiring Jumbonline in Europe in 2023, further supporting the company’s roll-up strategy of expanding through strategic acquisitions.
The acquisition is expected to significantly strengthen TBO Tek’s premium outbound travel presence in North America, a key growth market for the company. According to Jefferies, the move underscores TBO Tek management’s focus on scaling globally while enhancing its product offerings in the high-value travel segment.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
