0221 GMT - The slump in Webjet shares that followed the deferral of the Australian travel agent's first-half results could represent a buying opportunity, according to RBC analyst Wei-Weng Chen. He doesn't see evidence to suggest that the deferral is related to issues at Web Travel, the larger corporate travel-focused entity from which Webjet recently demerged. He thinks that the fact that Webjet shares have continued to trade while Web Travel's have been halted suggests issues aren't material for Webjet or related to the demerger. He chooses not to speculate on Web Travel's warning that it may have to restate prior-year earnings. RBC has an outperform rating and A$1.30 target price on Webjet shares, which are down 9.8% at A$0.83. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 19, 2024 21:21 ET (02:21 GMT)
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