Company Overview: Corporate Travel Management Limited (ASX: CTD) is an Australia-based firm that offers business travel management services. Its primary activities include coordinating the buying and delivery of travel services for its clients. The company's segments comprise Australia and New Zealand, North America, Asia, and Europe. Lynch Group Holdings Limited (ASX: LGL) is a vertically integrated value-added wholesaler and grower of flowers and potted plants with operations in the Australian and Chinese floral markets. Kalkine’s Market Event Report covers the Investment Summary, Event Summary, Data Insights & Analysis, Key Financial Metrics, Risks, Outlook, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

Investment Summary

Event Highlights

Data Insights and Analysis

Key Drivers versus Key Challenges

Based on the above data, two ASX stocks have been identified to showcase the momentum. 

1) Corporate Travel Management Limited (Recommendation: ‘Buy’ at AUD 12.060, Potential Upside: Low Double-Digit) (M-cap: AUD 1.78bn)

Company Overview: is an Australia-based firm that offers business travel management services. Its primary activities include coordinating the buying and delivery of travel services for its clients. The company's segments comprise Australia and New Zealand, North America, Asia, and Europe.

The stock has declined by ~30.33% in last six month, and over the last nine months, it has corrected by ~37.12%. The stock has a 52-week low and 52-week high of AUD 10.800 and AUD 21.49, respectively, and is currently trading below the 52-week high-low average. CTD was last covered in a report dated ‘18 September 2024’.

2) Lynch Group Holdings Limited (ASX: LGL) (Recommendation: ‘Hold’ at AUD 1.500, Potential Upside: Low Double-Digit) (M-cap: AUD 177.91mn)

Company Overview: LGL is a vertically integrated value-added wholesaler and grower of flowers and potted plants with operations in the Australian and Chinese floral markets.

The stock has declined by ~13.92% in last nine months, and over the last one month, it has increased by ~2.04%. The stock has a 52-week low and 52-week high of AUD 1.300 and AUD 2.060, respectively and is currently trading below the 52-week high-low average. LGL was last covered in a report dated ‘29 July 2024’.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 23 September 2024. The reference data in this report has been partly sourced from REFINITIV. 

Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above. 

Technical Indicators Defined: - 

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock. 

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.