<div id="readability-page-1"><div><ul> <li>In the past quarter, Anchorage Capital Advisors established a major new position in Global Business Travel Group, acquiring nearly 7.2 million shares valued at approximately US$58.1 million following the company's acquisition of CWT and an increase in full-year guidance.</li> <li>This investment made Global Business Travel Group the largest holding in Anchorage’s portfolio, highlighting institutional confidence driven by recent revenue growth, European expansion, and new digital growth initiatives.</li> <li>We'll examine how Anchorage’s major investment signals investor confidence in Global Business Travel Group’s growth and acquisition strategy.</li> </ul><p>These 13 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch.</p><h2>Global Business Travel Group Investment Narrative Recap</h2><p>To be a shareholder in Global Business Travel Group, you need to believe the company can successfully integrate major acquisitions and capitalize on digital growth, despite a slower growth environment and intensifying competition. While the recent news of Anchorage Capital Advisors taking a substantial stake strengthens perceptions of institutional confidence, it does not materially alter the most important short term catalyst: the smooth integration of CWT and realization of targeted synergies. The biggest ongoing risk remains the potential for integration missteps or macroeconomic headwinds to dampen expected earnings improvements.</p> <p>The company’s recent completion of the CWT acquisition and raised full-year revenue guidance stand out as closely tied to Anchorage’s investment. Successful execution on synergy targets, US$155 million over three years, is now in sharper focus as a near-term catalyst, particularly as market participants watch for operational updates related to cost reductions and new client wins in Europe. However, realizing these benefits will depend on seamless post-acquisition integration within a still-uncertain demand environment.</p> <p>In contrast, investors should also be aware of the heightened execution risk that comes with major acquisitions, especially if...</p> <p>Read the full narrative on Global Business Travel Group (it's free!)</p><p>Global Business Travel Group's narrative projects $2.8 billion in revenue and $324.4 million in earnings by 2028. This requires 5.0% yearly revenue growth and a $381.4 million increase in earnings from the current figure of -$57.0 million.</p><p>Uncover how Global Business Travel Group's forecasts yield a $10.57 fair value, a 37% upside to its current price.</p><h2>Exploring Other Perspectives</h2><figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b9624f37-22d9-4252-b2f5-0fb8faa0633b/chart/earnings-and-revenue-growth?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b9624f37-22d9-4252-b2f5-0fb8faa0633b/chart/earnings-and-revenue-growth"/><figcaption>GBTG Earnings &amp; Revenue Growth as at Nov 2025</figcaption></figure> <p>Simply Wall St Community members forecast a single fair value estimate of US$21.46 per share, suggesting consensus on potential undervaluation. Yet the company’s ability to deliver synergy targets following the CWT acquisition may be a key point of difference in investor outlooks, explore how your view lines up with others.</p><p>Explore another fair value estimate on Global Business Travel Group - why the stock might be worth over 2x more than the current price!</p><h2>Build Your Own Global Business Travel Group Narrative</h2><p>Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.</p><ul><li>A great starting point for your Global Business Travel Group research is our analysis highlighting 5 key rewards and 2 important warning signs that could impact your investment decision.</li><li>Our free Global Business Travel Group research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Global Business Travel Group's overall financial health at a glance.</li></ul><h2>Seeking Other Investments?</h2><p>Opportunities like this don't last. These are today's most promising picks. Check them out now:</p><ul><li>The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 25 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement.</li><li>We've found 15 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</li><li>The end of cancer? These 29 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer's.</li></ul> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p></div></div>

GBTG

<p>Anchorage Capital Advisors has acquired 7.2 million shares of Global Business Travel Group (GBTG) worth $58.1 million, making it the largest holding in Anchorage's portfolio. This investment follows GBTG's acquisition of CWT and increased full-year guidance. The focus is on successful integration and achieving $155 million in synergies over three years. GBTG projects $2.8 billion in revenue and $324.4 million in earnings by 2028, requiring 5% yearly revenue growth. The stock is considered undervalued with a fair value estimate of $10.57, a 37% upside to its current price.</p>

Global Business Travel Group (GBTG) Is Up 8.4% After Anchorage Builds $58M Stake – Has the Bull Case Changed?