Australia's Flight Centre among top ASX 200 movers on forecast hike

Flight Centre Travel

20/07/2023 04:43

(Updates with analysts' comments, milestone)
    ** Shares of Flight Centre Travel Group Ltd  FLT.AX  rise as
much as 4.8% to A$21.8, posting their biggest intraday pct jump
since Feb 1
    ** Travel manager now sees FY23 underlying EBITDA between
A$295 mln ($200.16 mln) and A$305 mln, up from its earlier
forecast range of A$270 mln to A$290 mln 
    ** Jefferies says cautious on the 2% profit before tax
margin target, "which we believe can only be achieved if revenue
margin improves materially"
    ** Jefferies expects FY23 EBITDA of A$300.2 mln
    ** Morningstar expects dividends to resume from 2H23;
expects FY23 EBITDA of A$302 mln
    ** FLT shares hit their highest level since June 15; FLT
third biggest gainer in the ASX 200 benchmark index  .AXJO 
    ** Co sees total transaction value for FY23 to be in the
order of A$22 bln, nearly 115% growth on prior year
    ** Stock up 43.6% YTD, as of last close 
   

     ($1 = 1.4738 Australian dollars)

 (Reporting by John Biju and Sameer Manekar in Bengaluru)
 ((John.Biju@thomsonreuters.com;))