ROSEVILLE, Calif.-- Dutton Associates updates its coverage of Pro Travel Network (OTCBB: PTVL ) maintaining a Speculative Buy rating and a price target of $2.00. The report by Dutton senior analyst Richard West, CFA is available at
www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Knobias, Reuters, and other leading financial portals.
Pro Travel is conducting a relatively young direct-to-consumer service business that leverages the home-based business concepts with the travel industry. Pro Travel believes they offer one of the most unique and comprehensive independent travel agent training packages in the travel industry. Pro Travel currently supports more than 13,500 independent travel agents and 5,800 independent representatives throughout North America. Pro Travel has established strong relationships with travel providers for cruises, air travel, hotels, and auto rentals. Evidence of the strength of these relationships is seen in Pro Travel’s increasing booked cruises with Carnival Cruise Lines for 2007 by over 91% since 2006. Pro Travel’s revenue continues to increase on a comparable quarter basis; total revenue for six months ended December 31, 2007, increased 197.1% to $2.1 million from $708,552 for six months ended December 31, 2006. Through the last six quarters, Pro Travel’s revenue has been over $2.0 million for each quarter. Its balance sheet is clean and strong with no long-term debt and a current ratio over 2 to 1. We reiterate our Speculative Buy rating and our $2.00 price target.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $39,500 from the Company for 4 Research Reports with coverage commencing on 3/12/2007. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
Contact:
Dutton Associates
John M. Dutton, 916-960-0623
