Analysts at Citi report that FY23 results for Australia’s Corporate Travel Management (ASX:CTD) have adequately balanced the prevalent softness in the market.

Corporate Travel Management (ASX:CTD) announced a final dividend of 22 Australian cents per share on Wednesday along with an adjusted net income for FY23 of A$92.5 million.

Brokers anticipate that the market’s attention will shift towards lower recovery expectations, which could introduce upside risks to earnings.

Meanwhile, the price target has been reduced to A$22.55 from A$23.80.

From 17 analysts, 12 rate the stock as ‘buy’ or higher, three recommend holding, and two suggest selling or rating lower.

Their median price target is A$22.53, according to Refinitiv data.

As of the latest close, the stock has increased by 22.8% this year.

Corporate Travel Management is a company that specializes in business travel management services.