Credit Suisse observes recent travel data has been weak, consumer sentiment is poor and there is a strong second half skew to guidance.
At this point, the broker queries the assumptions about a recovery that are implied in FY20 guidance and downgrades to Neutral from Outperform, lowering the target to $44.83 from $47.49.
Sector: Consumer Services.
Target price is $44.83.Current Price is $40.64. Difference: $4.19 – (brackets indicate current price is over target). If FLT meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
