As I sure most subscribers know Webjet is engaged in the digital travel business across both global consumer markets and wholesale markets i.e. book your holiday all online. WEB has ridden the reopening wave extremely well having delivered a better-than-expected first-half report in late 2022, from a sector perspective we prefer WEB’s online offering to Flight Centre’s (FLT) primarily shop front alternative but the desperate capital raising through COVID leaves lots of shares on the register with many long from $1.70.
- We believe that too much positive news is built into WEB to like the risk/reward around $7.50
MM is neutral towards WEB around $7.50
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