Bourse Discourse: WEB, NUF
Thursday’s ASX rout made it a tough day to be releasing results, but the show must go on. Here’s the latest from travel firm Webjet and agricultural chemical company Nufarm.
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Over the past five years, we have been building a global portfolio of leading B2B travel providers, with the aim of offering the travel trade, the widest range of hotel inventory at the lowest possible prices. Throughout this process, our strategy has been to combine organic start-up businesses with the acquisition of established and reputable companies to ensure a fresh and creative approach alongside a wealth of experience. WebBeds now operates some of the fastest growing and most instantly recognised and respected brands in the industry.
We are very aware that our partners know, trust and enjoy excellent working relationships with our existing brand names so we won’t be rushing this process. For now, you can learn more about JacTravel, Sunhotels, Lots of Hotels, FIT Ruums and Totalstay
Thursday’s ASX rout made it a tough day to be releasing results, but the show must go on. Here’s the latest from travel firm Webjet and agricultural chemical company Nufarm.
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Life after Covid is slowly becoming clearer for online travel group Webjet (ASX: WEB), but pre-pandemic times will not return until 2023, according to the company’s half year results on Wednesday.
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More losses for online travel and accommodation agency Webjet have underlined the sector’s continuing problems with the pandemic and closed borders with a result again strewn with red ink.
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After another capital raising, will Webjet be free to pursue the acquisition of distressed travel assets or is protecting the balance sheeta priority?
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Shares in embattled online travel retailer Webjet ended lower, but higher after resuming trading yesterday after an emergency fund raising. In doing so Webjet revealed it had picked up a new best friend from the issue in aggressive US private equity giant Bain Capital.
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The broker maintains its Add rating and marginally decreases its target price to $6.55 from $6.60.
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Given softer data, Citi pushes out expectations and views the opportunity and risk/reward as balanced. Hence, a Neutral/High Risk rating is maintained. Target is raised to $6.04 from $5.27.
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Morgans increases the price target to $5.10 from $4.92. Hold is maintained.
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Morgans retains the Hold rating and $4.92 price target.
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Webjet has announced a $250m convertible notes offering with a conversion price of $6.35. The broker's Equal-weight rating retained. Target is $4.50.
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