Citi cuts PT for Australia's Web Travel on Middle East outlook

MakeMyTrip

27/05/2026 20:32

** Analysts at Citi lower price target for Australia's Web Travel WEB.AX to A$3.70 from A$3.90, retain 'buy' rating
** Citi reduces H1FY27 Middle Eastern total transaction value for the online travel agency to zero and increases the AUD conversion headwind, lowering FY27 EBITDA forecast by nearly 5%
** When geopolitical conditions normalise, expect WEB to be in an incrementally better position because of the strong market share gain, Citi says
** WEB on Wednesday posted FY26 underlying EBITDA of A$148.4 million ($105.96 million), compared with A$120.6 million a year ago
** Morningstar expects WEB revenue growth to slow to 4% in FY27
** As of last close, stock down 49.2% YTD
($1 = 1.4006 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)
 ((Keshav.singhchundawat@thomsonreuters.com))