TBO Tek shares surge 9% as Jefferies raises target price by 11%

TBO Tek shares surge 9% as Jefferies raises target price by 11%

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Shares of TBO Tek surged over 9% to a high of Rs 1,687 on September 8, their highest level since January, after global brokerage Jefferies raised its target price on the stock by 11%.

Jefferies raised its target price on the stock to Rs 1,800 from Rs 1,625 and maintained a 'buy' rating on the business-to-business travel distribution platform. The company's acquisition of US-based Classic Vacations for $125 million will strengthen its presence in the premium outbound market, especially in North America, Jefferies said, reported CNBC-TV18.

Jefferies believes this acquisition is a part of the company's roll-up strategy in incubated markets and forecasts that it may also lead to an increase of around 2-6% in its earnings per share until 2027-28 (Apr-Mar), the report said.

At 2:40 pm on September 8, TBO Tek shares pared gains from day's high and were trading 4.8% higher at Rs 1,615 apiece.

Classic Vacations will continue as an independent brand and leverage TBO’s technology and distribution capabilities to grow their business. The acquired company had a revenue of $111 million and operating EBITDA of $11.2 million for the year ended December 2024.

TBO Tek has been expanding into the premium outbound travel market, and the acquisition aligns with Classic Vacation’s B2B brand and advisor network, backed by a brand that is nearly five decades old. TBO Tek is an IATA registered ticketing agency and operates online platform travelboutiqueonline.com as well as offers services in B2B segment.