0144 GMT - Flight Centre's bulls at Jefferies like the look of the Australian travel agency's latest acquisition. Analysts Michael Simotas and Naveed Fazel Bawa think that the purchase of U.K. cruise agency Iglu is reasonably priced at an initial A$200 million, and see value in Flight Centre's expansion into the high-margin and growing cruise industry. They point out in a note to clients that Iglu's FY25 3.1% Ebitda margin will be accretive to Flight Centre's earnings. Additionally, they see Flight Centre gaining share of the business travel market due to ongoing issues at Corporate Travel Management. Jefferies raises its target price 11% to A$15.50 and keeps a buy rating on the stock, which is up 5.4% at A$14.72. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 10, 2025 20:44 ET (01:44 GMT)
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