0337 GMT - Webjet's new bull sees potential for the consumer-focused travel agent's first-half results to act as a positive catalyst for the stock. RBC Capital Markets analyst Wei-Weng Chen initiates coverage of the stock with an outperform rating, telling clients in a note that the company--which recently separated from the Web Travel corporate-focused business--is well capitalized, highly cash generative and expected to return to dividend payments from fiscal 2026. Chen says that his forecasts are undemanding, albeit higher than the analyst average. He sees first-half Ebitda for Webjet's online travel agency rising 1% on year. RBC places a A$1.30 target price on the stock, which is up 4.2% at A$0.9275. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 18, 2024 22:37 ET (03:37 GMT)
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