After yesterday’s closing bell, Ultitek announced that Market Advisors is initiating coverage on the company and awarded it with a $0.38 target price. Ultitek is engaged in computerized airline reservation distribution systems and recently announced that it is directly entering the Airline Distribution business.
“With a strong foothold already established in Russia, Ultitek is in an enviable position going forward… We believe that the company has numerous sources of growth in cash flow. One area of steady revenue is directly attributed to the company’s software product SIG23 (Sirena Internet Gateway) for organizing the interaction of their site with reservations systems,” stated the Market Advisors’ report.
Tourism is one of the fastest growing industries and has strong potential to continue. The total number of international trips is expected to double by 2020, which offers Ultitek tremendous opportunity.
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