Total transaction value (TTV), revenue and cashflow were all beats compared to Morgans forecasts, when Webjet unveiled FY22 results. May is tracking ahead of April, the most profitable month since March 2020, with all business segments profitable.
Management is sticking with a target of returning to pre-covid booking levels in the 2H of 2023. The broker maintains its Add rating and marginally decreases its target price to $6.55 from $6.60.
Target price is $6.55.Current Price is $5.87. Difference: $0.68 – (brackets indicate current price is over target). If WEB meets the Morgans target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).