** Corporate travel booking agency Navan NAVN.O on Wednesday raised its annual forecasts for revenue and operating income, citing strong business travel demand and growth in its enterprise customer base

** At least seven brokerages raise PT on NAVN

** Shares rise ~20% to $25 premarket

** Median PT of 15 brokerages covering NAVN is $29 - LSEG data

RESILIENT CORPORATE DEMAND AND GROWING AI MOMENTUM

** Jefferies says NAVN continues to expand its market share by combining sales-led approach, focused on large enterprises and mid-sized clients, with product-driven self-serve model that attracts and converts smaller customers

** Morgan Stanley says NAVN's proprietary AI, powered by its Cognition orchestration layer, is increasingly handling customer interactions, rising from 20% to 30%, thereby improving efficiency

** Mizuho says corporate travel demand remains resilient despite widespread disruptions from winter storms and TSA shutdown concerns to conflict in the Middle East

** Adds that NAVN counts 45 of S&P 500 as customers, up from 28 a year ago

Brokerages	New PT	Old PT
Jefferies	$26	$18
Morgan Stanley	$33	$25
Mizuho	$30	$25
Needham	$30	$25
BMO	$30	$22
Citigroup	$28	$21
Rosenblatt	$27	$24