WEB – Credit Suisse rates the stock as Downgrade to Neutral from Outperform

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Credit Suisse eventually expects upside to the FY19 earnings base, primarily driven by the B2B division. However, with this division exposed to onerous travel restrictions in the northern hemisphere the broker tempers expectations and will look to get upbeat again once intra-regional leisure travel improves.

Meanwhile, the B2C division, which is two thirds domestic travel, is looking increasingly attractive with the opening up of Australia, and potentially New Zealand. Rating is downgraded to Neutral from Outperform. Target is $4.50.

Sector: Retailing.

Target price is $4.50.Current Price is $4.11. Difference: $0.39 – (brackets indicate current price is over target). If WEB meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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