WEB’s shares popped +17% last week following an excellent start to FY23 which showed all businesses are now all profitable. The company is set to exceed pre-Covid earnings in FY24, well ahead of the broader travel market even with headwinds from Japan and China. MM believes WEB is now well positioned in a recovering market.
- We like the direction WEB is heading and can see another assault above $6 into 2023.
MM likes WEB around $5.25 as sentiment slowly improves
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