BUZZ-Citi cuts PT for Australia's Flight Centre Travel Group

Reuters
15 Nov 2024

** Analysts at Citi cut PT for Flight Centre Travel Group

to A$20.35 from A$24.35; maintain "buy" rating

** Citi revises FY25 profit before tax $(PBT)$ est. for the corporate travel manager to A$382 mln ($246.47 mln), following the company's FY profit est.

** FLT said on Thursday it sees an underlying PBT of A$365 mln to A$405 mln for fiscal 2025 in its trading update

** While risks remain, the volatility in booking patterns and recovery of override accruals should smooth out over the course of a year as consumers are still travelling - Citi

** Stock down by 14.6% YTD, as of last close

($1 = 1.5499 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))

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