0122 GMT - Flight Centre's strong recent momentum keeps the Australian travel agent's bull at Macquarie onside. The ASX-listed company's underlying profit was about 9% lower than Macquarie analysts had anticipated over its fiscal first half, but the decline was heavily weighted toward the first quarter. The analysts point out in a note to clients that underlying profit actually rose 14% in the second quarter and that management says momentum is continuing in both leisure and business into its second half. Macquarie keeps an outperform rating and A$22.34 target price on the stock, which is down 0.25% at A$16.18. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 20:22 ET (01:22 GMT)
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