
Evercore Downgrades Global Business Travel Group (NYSE:GBTG) to Hold

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Evercore has downgraded Global Business Travel Group (NYSE:GBTG) from a "strong-buy" to a "hold" rating. Other analysts have also adjusted their ratings, with Weiss Ratings lowering it to "sell" and Bank of America initiating coverage with a "neutral" rating. The stock opened at $9.50, with a consensus rating of "hold" and a price target of $8.90. GBTG reported a 35.3% increase in quarterly revenue, reaching $840 million. Institutional investors own 82.46% of the stock, and a recent acquisition deal is expected to positively impact the stock's performance.
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