There are signs of a strong FY22 domestic recovery in North America and Australasia and Macquarie notes these regions now comprise more than 70% of group revenue. The broker points to recent updates from Qantas ((QAN)), Serko ((SKO)) and corporate activity data.
Macquarie upgrades to Outperform from Neutral, noting the main risk is that the pandemic restrictions persist and delay recovery of domestic and international travel. Target is raised to $20.75 from $20.05.
Sector: Consumer Services.
Target price is $20.75.Current Price is $19.35. Difference: $1.40 – (brackets indicate current price is over target). If CTD meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
