Australia's Webjet sheds early gains as Macquarie lowers PT

Web Travel

02/09/2024 04:52

** Shares of travel company Webjet Ltd  WEB.AX  fall as much
as 0.9% to A$7.78
    ** Earlier in the session, stock up as much as 1% at A$7.93 
    ** Macquarie lowers price target on Webjet's stock to A$8.72
from A$9.95, retains "neutral" rating
    ** Analysts at Macquarie say revenue margins estimates for
business-to-business operations (B2B) for the consumer services
firm were below expectations
    ** Brokerage sees limited scope for any earnings update on
the firm and does not expect any margin improvement in B2B
    ** Stock has risen 7% this year, as of last close
    

    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))