Australia's WEB Travel falls as Macquarie downgrades PT, earnings view

Web Travel

24/09/2024 02:27

** Shares of WEB Travel Group  WEB.AX  fall 2.7% to A$7.15
after Macquarie cuts price target 
    ** WEB Travel recently downgraded its long-term expectations
for revenue margins to 7%-7.5% from prior forecast of 7.5%
    ** Brokerage cuts travel company's PT to $7.63 from A$8.72
    ** Macquarie expects revenue margin contractions to be
driven by WEB targeting volume growth in lower margin regions
and continued investments by hotels into direct channels
    ** Brokerage reduces co's FY25-27 EPS forecast by 21%, 22%
and 23%, respectively
    ** WEB Travel stock down 2.3%, YTD
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))