Australia's Web Travel Group falls to 1-month low; Citi downgrades on Mideast woes

Web Travel

11/05/2026 04:54

** Web Travel Group WEB.AX falls as much as 5.8% to A$2.59, lowest since April 13

** Citi trims PT to A$3.9 from A$5.6; maintains "buy/high risk" rating

** Lowers EBITDA estimates by ~6% and 19% for FY26 and FY27, respectively, to reflect challenged Middle Eastern business, general softness, higher cancellations

** Cuts rest of world growth to account for cautious consumer, FX translation headwinds

** Stock rated "buy" on avg; median PT is A$5.3, per data compiled by LSEG

** WEB down 45.7% YTD

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))