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Australia's Flight Centre heads for worst week in 7 after Citi cuts target price on weak outlook

By Reuters News59 minutes ago Updated

** Shares of Flight Centre Travel Group FLT.AX fall 2.1% for the week, heading for their worst weekly performance in seven weeks

** On Nov 11, travel agency's shares fell 7.3% after reporting outlook FY27 underlying PBT that was broadly in line with market expectations at the midpoint

** Citi note, published after market hours on Nov 11, says outlook implies no market growth and cuts TP to A$12.95 from A$13.20; rating unchanged at "neutral"

** Eight of fourteen analysts rate FLT "buy" or higher, and six "hold"; their median PT is A$13.91, according to data compiled by LSEG

** Stock up 0.3% on the day

** YTD, stock down 19.3%

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