Australia's Flight Centre Travel rises; Morgan Stanley starts with "overweight"

Flight Centre Travel

13/01/2025 03:41

** Flight Centre Travel Group  FLT.AX  rises as much as 2.5%
to A$16.44
    ** Morgan Stanley starts with "overweight" and PT of A$22
    ** Says FLT has long-term mindset and competitive advantages
of scale, brand and switching costs
    ** "We are very confident FLT can automate to improve
margins in excess of market expectations"
    ** Sees competition from online travel agents, suppliers
attempting to grow direct-to-consumer sales and new AI entrants
as key risks to co
    ** Stock rated "buy" on avg; median PT is A$20.23 - LSEG
    ** FLT fell ~18% in 2024

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