Australia's Flight Centre Travel rises; Morningstar backs long-term growth
BUZZ-Australia's Flight Centre Travel rises; Morningstar backs long-term growth Updates with share moves
** Shares of Australia's Flight Centre Travel FLT.AX rise as much as 6.9% to A$10.800, post their biggest intraday pct gain since April 8
** Stock has gained 8.4% so far this week, set for its best week since mid-December
** Morningstar is confident in FLT's longer-term earnings growth through incremental improvements in productivity measures and growing new revenue streams in leisure and corporate travel segments
** Travel retailer said on Tuesday the Middle East tensions heavily impacted its early Q4 results
** Morningstar sees current turbulence as temporary for Flight Centre Travel
** Investment research firm maintains fair value estimate of A$18.50 for FLT
** FLT's falling business confidence, higher airfare could affect short-term earnings if the U.S.-Iran conflict persists - Morningstar
** Stock down 28% YTD
(Reporting by Keshav Singh Chundawat in Bengaluru)
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