Webjet's Balance Sheet Could Support More M&A -- Market Talk

Dow Jones03-25

2300 GMT - Webjet is likely to use its FY 2024 results announcement to release its capital-management policy, with further acquisitions potentially on the cards, Morgans analyst Belinda Moore writes in a note. She tells clients the strength of the Australian company's balance sheet should support capital management and M&A Activity. Moore reckons that Webjet is a markedly better business than prior to the Covid-19 pandemic, and says that its hotel-marketplace unit has a better organic growth profile and higher Ebitda margin than any other travel company covered by the broker. Morgans lifts its target price by 21% to A$10.33 and keeps an add rating on the stock, which is at A$8.74 ahead of the open. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 24, 2024 19:00 ET (23:00 GMT)

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