0419 GMT - The share-price reaction to Flight Centre's guidance downgrade suggests that the move was widely anticipated by investors, according to its bulls at Morgan Stanley. The MS analysts had already lowered their estimates below the Australian travel agent's prior profit guidance, and see the 1% share-price lift that followed the company's downgrade as evidence that their outlook was mirrored elsewhere. They see the downgrade as having re-based market expectations. MS has a last-published overweight rating and A$16.60 target price on the stock, which is down 0.7% at A$12.50. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 29, 2025 00:19 ET (04:19 GMT)
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