0429 GMT - Helloworld is materially undervalued and patient investors should be rewarded when the global travel industry eventually rebounds, Morgans analyst Belinda Moore says. With an unchanged buy recommendation on the Australian travel agent, Moore looks past the ongoing Middle East conflict and its associated uncertainty to a time when it can leverage the structural tailwinds favoring leisure travel. "Its target market is becoming wealthier, living longer and traveling more," she writes in a note. Moore adjusts her forecasts following Helloworld's acquisition of Crown Currency Exchange to account for modest EPS accretion from fiscal 2028. Morgans raises its target price by 2.8% to 2.24 Australian dollars. Shares are down 0.4% at A$1.37.
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