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EBIX

Ebix

$48.10

0.26 (0.54%)

, YTRA

Yatra

$3.89

0.17 (4.57%)

07:40
07/17/19
07/17
07:40
07/17/19
07:40

Ebix, Yatra see merger accelerating growth potential as international provider

Ebix, (EBIX) and Yatra Online (YTRA) announced that they have entered into a definitive agreement under which Ebix will acquire Yatra via merger. The companies said, "Strategic and Financial Benefits of the Transaction: Accelerates Growth Potential as a Premier International Travel Services Provider. Under Ebix's leading travel platform, the combined company will leverage Yatra's large and loyal existing customer base, comprehensive service offering and multi-channel platform to take advantage of the dynamic and growing multibillion-dollar opportunity in India. The combined company will have an international footprint with more than 11,000 employees and a travel expanse spanning GCC, ASEAN and Asia Pacific countries. The transaction also provides the necessary scale to extend its travel business to North America, Latin America and Europe. Together, Ebix and Yatra will be a comprehensive global platform with "on-the-ground" presence in major markets worldwide. Creates World's Leading End-to-End Enterprise Financial and Insurance Services Provider. Given the highly complementary nature of each company's travel platform, the combined entity will create India's largest end-to-end travel industry provider, offering distribution, travel insurance, forex, MICE, Visa, and travel technology services. Combining Yatra's loyal customer base, comprehensive service offering and multi-channel platform with Ebix's complementary Via and Mercury businesses, creates a leading online travel platform that will capture cross selling growth opportunities across the EbixCash portfolio of products an customers, while delivering enhanced value to shareholders. Delivers Short and Long-Term Financial Benefits. The transaction is expected to be 40c to 75c accretive to Ebix's non-GAAP earnings per share within a period of 6 to 12 months from closing, once all the mutual synergies have been executed. Ebix has a proven track record of successfully integrating acquired products, services and companies in a highly disciplined and efficient manner, with resulting cash flow and earnings per share being key endpoint metrics and generating significant shareholder value. Creation of India's Largest Financial and Travel EbixCash Exchange. Ebix intends to make Yatra an integral part of the EbixCash financial and travel exchange portfolio, while targeting an EbixCash IPO in the second quarter of 2020. The synergies and the cross-selling opportunities can create tremendous economic value for the shareholders, once the IPO is done."

EBIX

Ebix

$48.10

0.26 (0.54%)

YTRA

Yatra

$3.89

0.17 (4.57%)

EBIX Ebix
$48.10

0.26 (0.54%)

10/08/18
CHLM
10/08/18
NO CHANGE
Target $110
CHLM
Buy
Ebix share drop a buying opportunity, says Craig-Hallum
Noting that the company has announced that it will be changing auditors, Craig-Hallum analyst Jeff Van Rhee says his opinion on Ebix is unchanged. While a negative reaction to the auditor change headline is to be expected, the magnitude of the reaction appears to be misguided, he contends. The analyst points out that there is no difference of opinion on numbers, the company appears to be seeking and on a path to a "Big Four" auditor, and a second half of 2019 IPO timeline for EbixCash appears to be intact. He reiterates a Buy rating and $110 price target on the shares.
01/11/19
CHLM
01/11/19
NO CHANGE
Target $110
CHLM
Buy
Ebix shares should be owned into 2019, says Craig-Hallum
Craig-Hallum analyst Jeff Van Rhee tells investors in a research note that Ebix shares are a "coiled spring" and should be owned entering 2019. The analyst has a Buy rating and $110 price target on shares.
03/05/19
BMOC
03/05/19
NO CHANGE
Target $62
BMOC
Market Perform
Ebix price target lowered to $62 from $75 at BMO Capital
BMO Capital analyst James Fotheringham lowered his price target on Ebix to $62 to reflect its lower than previously modeled revenue more than offsetting lower expected expenses. The analyst also keeps his Market Perform rating on the shares, stating that in spite of its latest earnings beat, investors will be concerned by the company's "sliding targets and auditor changes" dampening valuation multiples.
05/10/19
MAXM
05/10/19
NO CHANGE
Target $124
MAXM
Buy
Ebix price target raised to $124 from $113 at Maxim
Maxim analyst Allen Klee raised his price target on Ebix to $124 and kept his Buy rating after its above-consensus Q1 earnings driven by "strong growth" in India and operating cash flows reaching all-time highs. At 11.6-times his forward earnings estimate, the analyst also sees valuation on Ebix as "compelling", with catalysts around the company's IPO/private equity investment of India business as well as a potential closing of its proposed Yatra Online acquisition.
YTRA Yatra
$3.89

0.17 (4.57%)

07/20/18
SBSH
07/20/18
INITIATION
Target $9
SBSH
Buy
Yatra initiated with a Buy at Citi
Citi analyst Mark May started Yatra with a Buy rating and $9 price target. The company has established itself as one of the leading online travel agencies in India, May tells investors in a research note. He forecasts 27% annual revenue growth for Yatra over the next three years and views the stock's risk/reward as favorable at current levels.
08/17/18
JEFF
08/17/18
INITIATION
Target $6.75
JEFF
Buy
Yatra initiated with a Buy at Jefferies
Jefferies analyst Arya Sen initiated Yatra (YTRA) with Buy rating and $6.75 price target, citing expected benefits from strong air traffic growth in India and low online penetration in hotel booking. While still a "distant No. 2" to MakeMyTrip (MMYT), Yatra has a differentiated strategy of operating in the corporate and travel agent segments while also being more focused on mid-tier and budget hotels in Tier 2/3 cities, said Sen.
02/04/19
OPCO
02/04/19
DOWNGRADE
OPCO
Perform
Yatra downgraded to Perform from Outperform at Oppenheimer
02/04/19
OPCO
02/04/19
DOWNGRADE
OPCO
Perform
Oppenheimer downgrades Yatra to Perform on lack of catalysts
Oppenheimer analyst Jed Kelly downgraded Yatra Online (YTRA) to Perform from Outperform and removed his prior $8 price target. The analyst sees a lack of near-term catalysts for the shares. The stock will likely be range-bound based on decelerating revenue trends, Kelly tells investors in a research note. The analyst forecasts fiscal 2020 marketing leverage of up 370 basis points year-over-year, which he calls "underwhelming" for an emerging market company growing revenue in the mid-teens. Further, this should also limit the narrative that Yatra's corporate segment is a differentiator to MakeMyTrip (MMYT), says Kelly.

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General Motors

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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PLAN

Anaplan

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