Transfer of Analyst Coverage on Flight Centre
We have transferred analyst coverage of Flight Centre.We maintain our current forecasts and our AUD 33.00 per share fair value estimate. Shares in Flight Centre are currently trading around 7% above our intrinsic assessment. The current fiscal 2017 price/earnings multiple of 14.2 times and 4.2% yield (fully franked) may appear undemanding. However, we believe they appropriately reflect the tepid outlook, with our EPS forecasts projecting a five-year EPS compound annual growth rate of just 1.9%...
Flight Centre Travel Group is engaged in the travel retailing in both the leisure and corporate travel sectors, plus wholesaling.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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