Macquarie raises PT on Australia's Webjet on strong demand view

Web Travel

13/06/2023 03:18

** Analysts at Macquarie raise price target on Australia's
Webjet  WEB.AX  to A$8.03; say travel demand to be strong in
FY24
    ** Co's poor share performance lately due to agile macro
concerns - brokerage
    ** Macquarie expects air travel and hotel volumes to remain
strong over the next year with higher industry pricing
    ** Shares up as much as 1.6% to A$7.19, on track for best
day since May 29
    ** Eight analysts rate stock 'buy' or higher, five 'hold'
and two 'sell;' their median PT is A$7.97 – Refinitiv data
    ** Stock has risen 14.6% this year, as of last close

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