Online travel agency Webjet's share-price weakness is understandable, but likelyrepresents noise around the bigger picture. Webjet's business-to-business division is setto grow at an annual rate of more than 16% over the next decade, without any contributionfrom acquisitions made in that time. That reflects the structural nature of the hotelindustry where most are independently owned, Ord Minnett says. Also, Webjet'sbusiness-to-consumer arm will still record solid growth even though rates of expansionare likely to moderate to around 8.1%. "Webjet presents a serious buying opportunitygiven we are forecasting Ebitda to grow at a compound annual rate of 13.7% per annum overthe next decade," Ord Minnett concludes.
WEB Price at posting:
$10.48 Sentiment: Buy Disclosure: Held
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