Australia's Flight Centre Travel on course for worst week in 4 months, Jarden cuts TP

Flight Centre Travel

01/08/2025 04:40

** Shares of Flight Centre Travel FLT.AX fall 8.3% so far this week, on course for their biggest drop since March 31

** Travel retailer slumped 7.3% on Thursday after trimming its annual profit before tax forecast

** Jarden decreases target price to A$18.5 from A$19.3

** Jarden notes recent backdrop for travel has been "poor", on the back of regional conflicts, macro uncertainty and cost-of-living pressures

** However, brokerage retains "buy" call on seeing a case for optimism in FY26 as Middle East issues and Asia woes seem one-off, while improving global sentiment and strong intentions in luxury travel support positive view on travel

** Stock recovers to add 2.1% to A$12.19 on the day, bringing YTD losses to 26.9%

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))