The news:
Macquarie has raised its assessment of the Web Travel Group following the positive performance of this B2B travel firm.
full-year result
shares surged on Wednesday.
The numbers:
Macquarie has raised its rating for Web Travel from ‘neutral’ to ‘outperform’ and increased its target price by 28%, moving it up from $4.83 to $6.19.
Shares of Web Travel surged 12.4% on Wednesday, closing at $5.26.
The context:
According to Macquarie analysts, they anticipate the firm will keep expanding its total transaction value (TTV). They have growing confidence that this figure could hit their FY30 target of $10 billion.
They also observed that the outlook for Web Travel’s revenue and profit margins over the next few years has become more clear.
What they said:
“[Web Travel] is expected to perform better than other ASX travel counterparts under fluctuating economic circumstances,” according to the analysts.
The article was initially posted on
Capital Brief
as
Macquarie suggests Web Travel will surpass industry counterparts following the FY25 results.
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