Webjet $3 Party, page-50

Any reason for the sharp rise in SP (on solid volume might I add - 2% of SOI traded with 2 hours of trading + post market auction yet to go)?

I bought into WEB looking for a sharp rise in the SP prior the capital raise. In the phase where the shares were halted and there was news that WEB was struggling to get financing, I thought I would be lucky to even break even on this. Once the financing was secured my view was that the SP will trade in the 2 to 3 dollar range for the next few months and in around 6 to 12 months, we will see it start pushing towards $4+. My 3 year price target after the cap raise was $7. (if pre-covid NPAT of 60m is achieved, using a PE of 40 we get a market cap of 2.4bn which equates to $7 SP with 34m SOI). If we are lucky, that level of profit could be achieved before the 3 years.

If I am to think ultra bullishly, I would take into account that the group NPAT was growing at around 30% in the last few years, so in 3 years time NPAT should have been $120m if all went splendidly well and no COVID19 and that level of growth continued. If we work back on that basis and activity returns to 80% of business as usual in 3 years time, NPAT should be $96m and SP with a PE of 40 would be $11.

What are people thoughts on the likely NPAT figures a few years down the track? Please no baseless responses. Atleast take the time to look at past NPAT figures before writing something up.