** Citi raises target price for Web Travel Group WEB.AX to A$5.65 per share from A$5.55; maintains "neutral/high risk" rating
** Citi upgrades FY25 EBITDA estimate for the business travel distribution by ~4%
** "Overall result/outlook better than feared, however adjusting for pro-forma corporate cost allocations and accounting changes, it appears things were largely in line" — Citi
** Citi notes the key positives in the results were total transaction value (TTV) growth remaining materially above market, implied revenue margin that sequentially improved and a A$150 mln ($97.43 million) buyback
** Co posted on Wednesday 1HY25 revenue of A$170.4 mln, up 1% YoY
** Stock has down 25.8% YTD, as of last close
($1 = 1.5396 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com))
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