Citi cuts PT for Australia's Flight Centre Travel Group

Flight Centre Travel

14/11/2024 21:10

** Analysts at Citi cut PT for Flight Centre Travel Group
 FLT.AX  to A$20.35 from A$24.35; maintain "buy" rating
    ** Citi revises FY25 profit before tax (PBT) est. for the
corporate travel manager to A$382 mln ($246.47 mln), following
the company's FY profit est.
    **  FLT said on Thursday it sees an underlying PBT of A$365
mln to A$405 mln for fiscal 2025 in its trading update
    ** While risks remain, the volatility in booking patterns
and recovery of override accruals should smooth out over the
course of a year as consumers are still travelling - Citi
    ** Stock down by 14.6% YTD, as of last close

($1 = 1.5499 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))