Macquarie tips Web Travel to outperform peers after FY25 result
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The news: Macquarie has upgraded its rating on Web Travel Group after the B2B travel company's positive full-year result sent shares soaring on Wednesday.
The numbers: Macquarie upgraded Web Travel from 'neutral' to 'outperform' and hiked its target price 28% from $4.83 to $6.19.
Web Travel shares rocketed 12.4% on Wednesday to close at $5.26.
The context: Macquarie analysts said they expect the company will continue to scale total transaction value (TTV) and are "increasingly confident" it will reach its FY30 target of $10 billion.
They also noted that visibility over Web Travel's medium-term revenue and earnings margins has improved.
What they said: "[Web Travel] should outperform other ASX travel peers in volatile macro conditions," the analysts said.
The source: Macquarie research
