Jefferies raises PT on Australia's Webjet on leisure travel recovery

Web Travel

24/05/2023 20:53

** Jefferies raises price target on travel company Webjet
Ltd  WEB.AX  to A$6.70 from A$5.65 on a sharp recovery 
trajectory for leisure travel
    ** "Webjet is enjoying strong leisure travel at present, 
but we're getting near the point of normalisation" - Jefferies
    ** Jefferies upgrades company's FY24-25 total transaction
value by 10% 
    ** Webjet rallied into FY result and the beat is strong
enough to keep the momentum going, brokerage Citi says
    ** "The macro will get more difficult with prices and
leisure coming off" - Citi
    ** Seven of 15 analysts rate WEB "buy" or higher, 6 "hold",
2 "sell", median PT is A$7.25 - Refinitiv
    ** Stock up ~23% YTD, as of last close
 

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