Will Corporate Travel Management Ltd fly higher?

Corporate Travel Management Ltd (ASX: CTD) shareholders were treated to more remarkable gains on Wednesday after the small-cap superstar proposed a strategic acquisition of two smaller travel business in North America and the United Kingdom. You can read all about that here.

The stock rose 8.64% on the day, taking its total gain over the last 12 months to a remarkable 102%.

Corporate Travel Management

Source: Google Finance

The news gets even better…

As if a 102% yearly gain wasn’t good enough, stockbroking firm Morgans has upgraded its recommendation on the stock from ‘Hold’ to ‘Add’, raising its price target 16% to $11.20. This growth story could just be getting started…

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Motley Fool contributor Ryan Newman (@ASXvalueinvest) does not own shares in any of the companies mentioned.

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