0008 GMT - Australian travel agent Webjet gets a new bull on the basis that it was oversold in anticipation of its removal from a local share-market index. Wilsons Advisory initiates coverage of the consumer-focused company with an overweight rating, with analyst Ben Wilson telling clients that the stock offers what he calls deep value. Wilson writes in a note that, while Webjet's removal from the S&P/ASX 300 index is a setback, the anticipatory sell-off has left the stock trading at just four times fiscal 2025 Ebitda. With Webjet's strong balance sheet providing headroom for acquisitions, Wilson thinks that seven times Ebitda is a fairer multiple. Wilsons places a A$0.95 target price on the stock, which is down 1.9% at A$0.63. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 20:08 ET (00:08 GMT)
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