Morgan Stanley’s Continued Confidence in Flight Centre
In a recent report, Morgan Stanley analyst James Bales reaffirmed a Buy rating on Flight Centre Travel Group Limited, setting a price target of A$16.00. The company’s shares traded at $8.10 last Thursday.
Investment Insights
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Analyst Background
- James Bales focuses on the Consumer Cyclical sector, covering companies like Collins Foods, Temple & Webster Group Ltd, and WEB Travel Group.
- According to TipRanks, Bales boasts an average return of 0.4% and a success rate of 40.81% on his stock recommendations.
Market Consensus
The consensus among analysts regarding Flight Centre Travel Group is a Strong Buy, with a price target averaged at $9.52, suggesting a potential upside of 17.53% from current share prices. Similarly, UBS has also supported the stock with a Buy rating and a price target of A$13.70.
Financial Performance
Flight Centre Travel Group Limited recently disclosed its earnings for the quarter ending December 31. The company achieved a quarterly revenue of $1.33 billion, alongside a net profit of $60.47 million. In contrast, the previous year’s revenue was $1.29 billion, with a net profit of $86.6 million.
