Web Travel Group Ltd

WEB: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$3.60	Zcfv	Cpydlsdbn

Webjet: Downside of Postpandemic Recovery

Brian Han

Sep 20, 2023

Shares in Webjet have fallen 9% since providing a trading update at the annual general meeting on Aug. 31, 2023, and are now trading in line with our unchanged AUD 6.80 per share fair value estimate. The underperformance, relative to the 1% decline in the S&P/ASX 200 over the same period, is not due to any alarming deterioration in trading conditions. Indeed, we have nudged up our fiscal 2024-26 EBITDA forecasts by around 4%, reflecting better-than-expected continuing momentum for WebBeds.

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