WEB – Morgan Stanley rates the stock as Equal-weight

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Morgan Stanley struggles to envisage any upside for Webjet after noting soft peak summer demand at Thomas Cook. Webjet acquired Thomas Cook’s “sun and beach” complementary hotel contracts in 2016.

The broker also considers the company’s disclosures on B2B are opaque after it changed the reporting of the segment to be “by geography”.

Equal-weight. Target is $16.60. Industry View is In-Line.

Sector: Retailing.

Target price is $16.60.Current Price is $15.58. Difference: $1.02 – (brackets indicate current price is over target). If WEB meets the Morgan Stanley target it will return approximately 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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