Australia's Flight Centre Travel falls; UBS downgrades earnings outlook

Flight Centre Travel

06/05/2025 01:58

** Flight Centre Travel FLT.AX falls as much as 1.5% to A$12.62, biggest intraday pct decline since April 29

** UBS cuts PT to A$15 from A$20; retains "buy"

** Sees current macroeconomic environment creating short-term uncertainty in corporate and leisure travel

** Cuts earnings outlook for FY25 and FY26 by 14% and 15%, respectively, on assumptions of declining macro backdrop in H2 of FY25 and FY26

** Stock rated "buy" on avg; median PT is A$16.45, per data compiled by LSEG

** YTD, FLT down ~24%

 (Reporting by Nichiket  Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com;))