AFR confirms multiple bidders interested in WEB, page-58

MS must be really short on this one. One last attempt to close out positions before the buyout, I suspect. Seriously ridiculous analyst note when you consider a number of credible PE firms are currently spending large $$$ doing the sums to make their best offer for the business. No one would be wasting their time if they were going to be offering $10!

Morgan Stanley rates WEB as Downgrade to Underweight from Equal-weight (5) -

Morgan Stanley assesses the company's B2C business in Australia is most at risk from the trends that are playing out elsewhere.

Expedia and TripAdvisor have both cited increased monetisation of search traffic by Google as a contributing factor to declines in their earnings and outlook.

Morgan Stanley expects revenue leakage, growth in marketing costs and ultimately compression in multiples.

The implications are considered material and the broker downgrades to Underweight from Equal-weight. Target is reduced to $10.00 from $12.40. Industry View is In-Line.