Despite the FY21 result revealing a large loss due to covid travel restrictions and border closures, Morgans increases the price target to $5.10 from $4.92. It’s considered aggressive market share targets and costs savings are supportive.
After the analyst assesses the company on a fully diluted basis, including the equity raising and convertible note issues, the share price is not far off pre-covid levels. Hold is maintained. Management noted that as markets reopen, its businesses are rebounding quickly.
Sector: Retailing.
Target price is $5.10.Current Price is $4.91. Difference: $0.19 – (brackets indicate current price is over target). If WEB meets the Morgans target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
