** Shares of Australia's Web Travel Group WEB.AX extend recovery into a second day, up 4.4% to A$3.665

** Travel distribution company's stock dropped 29.5% on Friday, when it flagged that its Spanish unit was being audited by Spain's tax agency in relation to direct and indirect taxes owed in certain periods

** Stock recovered 18.6% on Monday, when the company said it is maintaining its FY26 earnings forecast, with FY26 EBITDA expected to rise in the range of 22% to 29% over last year, to between A$147 to A$155

** Morningstar reinstates its A$6 fair value estimate on co, and sees no fundamental basis to change their earnings forecasts

** "The reason we have not formally incorporated a liability into our fair value estimate is that, on a risk-weighted basis, we do not believe the potential cost is likely to be material to our fair value estimate" - Morningstar

** Stock down 23.2% so far this year

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))