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FLT - Citi rates as Sell
BY BROKER NEWS - 10/08/2018 | VIEW MORE BROKER UPDATES

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FLT - FLIGHT CENTRE LIMITED


The share price has been on strong uptrend with Citi analysts referencing a positive turn in the industry's cycle with oil prices having increased by circa 40% over the past 12 months; this is driving up airfares, helping revenue growth for travel agents such as Flight Centre.

However, the immediate outlook will be all about cost out, say analysts at Citi, and with the share price already factoring in material upside, they have decided to downgrade to Sell from Neutral.

Target price rises a further 9% to $59, but remains well short of where the share price is trading. Forecasts have been lifted by 3-4%.

Sector: Consumer Services.

Target price is $59.00.Current Price is $65.80. Difference: ($6.80) - (brackets indicate current price is over target). If FLT meets the Citi target it will return approximately -12% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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