from broker MB,
*******Upgrade to the top rating
****************upgraded to $20.00 (from $15.30),
Flight Centre Travel Group (FLT AU)
Preparing for take-off
Key points
1H21 challenged but outlook supported by pent up demand and a leaner
business model. Leisure and Corporate expected to breakeven in CY21.
Cash reserves adequate; available cash of ~$800m should be sufficient
until late CY22 at current run rate & assuming min. revenue improvement.
Upgrade to OP (from N). Stock remains highly sensitive to +ve news flow &
valuation supported by strong macro conditions
With vaccines being rolled out, travel recovery may have seen its last
delay. While 1H21 was challenged (TTV: -88% and revenue -90%), FLT
expects both Leisure & Corporate to breakeven during CY21 with TTV
recovering to pre-COVID levels in FY24 (we assume an 80-85% recovery)
Earnings and target price revision
• FY21/22/2 EPS n.m./+24%/+14% driven by cost benefits/ op leverage. PT
upgraded to $20.00 (from $15.30), reflecting earnings changes & reduced
risk discount in FY24 (by 1/3) with vaccine rollout now underway.
from broker MB,*******Upgrade to the top...
Add FLT (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$20.06 |
Change
-0.440(2.15%) |
Mkt cap ! $4.432B | |||
| Open | High | Low | Value | Volume |
| $20.48 | $20.51 | $19.96 | $22.27M | 1.108M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 425 | $20.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.06 | 2865 | 1 |
View Market Depth
| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$19.99 |
Change
-0.440 ( 2.47 %) |
||||
| Open | High | Low | Volume | ||
| $20.50 | $20.50 | $19.95 | 269417 | ||
| Last updated 15.59pm 06/05/2024 ? | |||||
| FLT (ASX) Chart |