I don't believe it's overvalued at over $13. Yes, less people will be using business travel options. More will be using zoom instead. However business travel was IIRC about 40% of their revenue stream. The SP has dropped by far more than that. By the way, the other assumption I keep seeing is that business travel will drop to literally zero as a result of the pandemic. It's not like businesses didn't know about zoom and Skype before. They could have used them at any time. Now's just putting the spotlight on those technologies. But it's jumping to conclusions to say it will drop to zero. And that still leaves leisure travel. And half the income from this company is coming from the Australia market. That may well be back online shortly.
Recovering back to $40 is a bit of a wish at the moment. But it's still undervalued at $14 IMO.
FLT Price at posting:
$14.04 Sentiment: Buy Disclosure: Held
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