Flight Centre Travel Group's stock surged 5.23% during intraday trading on Thursday, reflecting strong investor confidence following significant corporate developments.
The travel agency's shares gained momentum after it announced the acquisition of UK cruise agency Iglu and raised its FY26 profit outlook. Jefferies responded by increasing the price target to A$15.50 from A$14, while maintaining a "buy" rating, citing potential upside from corporate market-share gains and the company's strategic push into less commoditised segments like luxury and cruise.
Analysts highlighted the acquisition as a key driver for growth, despite structural headwinds in the leisure travel sector. The positive outlook and strategic moves have bolstered investor sentiment, leading to the notable intraday price surge.