Forsyth Barr slashes Serko valuation

Chief executive Darrin Grafton says nothing has changed for Serko since November. (Photo: supplied)

Fri, 11 Feb 2022

Forsyth Barr’s equity analysts have dropped Serko’s target price by more than a quarter, citing the impact of omicron and disappointing transaction volumes.Shares in the travel booking company traded as high as $8.30 in September last year but have fallen as low as $4.90 in the past few months.Jamie Foulkes, an analyst at Forsyth Barr, said this decline was a combination of falling prices in the global tech sector, the impact omicron had on travel, and disappointment about the volume of transactions from the Booking.com contract.&ld...

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