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

Web Travel

25/05/2023 05:13

(Updates with share movement and volumes)
    ** Shares of travel company Webjet Ltd  WEB.AX  rise as much
as 1.7% to A$7.71
    ** Jefferies raises price target on WEB 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
    ** Seven of 15 analysts rate WEB "buy" or higher, 6 "hold",
2 "sell", median PT is A$7.25 - Refinitiv
    ** More than 1.4 mln shares change hands, compared to 30-day
average volume of ~1.3 mln shares
    ** Stock up 22.7% YTD, as of last close
 

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