Navigant Rises On Acquisition Speculation

Buying a corporate travel management company 'would be the most prudent decision for both Cendant and Sabre,' according to Legg Mason analyst Tom Underwood, who today raised his rating to 'buy' and his price target to $25 on shares of Navigant International. Referring to the current valuation of Navigant, whose shares today opened at $16.55 and rose to $17.45 by midmorning, Underwood told investors that 'we think the time is approaching for the global distribution systems to enter the large corp