2344 GMT - Investors have more than priced in short-term pain to Flight Centre's stock, says Jefferies. Flight Centre's shares are down more than 30% since the start of 2026. Investors turned skittish after the Middle East conflict upended travel plans. Still, Flight Centre has stuck with annual profit guidance even though its Leisure business took an around A$10 million hit to earnings in April. Flight Centre's key May-June period is ahead. "We now forecast FY 2026 pretax profit of A$316 million, which is the bottom end of guidance and would imply 7% pretax profit growth in 4Q," analyst Michael Simotas says. "We assume challenges persist into FY 2027." Jefferies cuts its price target by 14% to A$15.00/share and retains a buy call. Flight Centre ended Tuesday at A$10.59. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 05, 2026 19:44 ET (23:44 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.