I think it was the two rather miserly updates from Morgans...

I think it was the two rather miserly updates from Morgans yesterday on the DJ newswire. They weren't exactly negative, but hardly over-enthusiastic either. They lifted the price target to $13.45, and they said futher growth is reliant of acquisitions.

2240 GMT - Morgans says a trading update and FY20 guidance from travel and hospitality company Webjet were marginally ahead of expectations, but that the impressive headline growth rates are largely due to recent acquisitions. Looking ahead, Morgans says "achieving scale rapidly is reliant on acquisitions," though management is doing a good job of executing on its strategy. Morgans maintains a hold rating, but says the B2B opportunity for Webjet's WebBeds subsidiary--which acts an intermediary between hotels looking to fill rooms--is appealing. ([email protected]; @Mike_Cherney)

(END) Dow Jones Newswires