As previously reported, Oppenheimer analyst Jed Kelly downgraded Sabre to Perform from Outperform. The analyst cited materially lower 2020 profitability outlook on higher technology costs related to its cloud transition. Management is pushing its long-term profitability targets out to 2024, representing the second straight material guide down to medium-term free cash flow targets following an Investor Day, he notes. Kelly believes this speaks to greater challenges than he appreciated in forecasting costs for a technology platform that must constantly adapt to evolving travel shopping trends. Additionally, the Coronavirus is expected to negatively impact Q1 Revenue/EPS, he says, adding that he sees the Coronavirus as a transitory headwind.