Webjet (ASX:WEB) share price rises on bullish broker note

The Webjet Limited (ASX: WEB) share price is on course to record a decent gain on Wednesday.

In morning trade, the online travel agent’s shares are up 2% to $6.32.

Why is the Webjet share price pushing higher?

The catalyst for the strong gain by the Webjet share price today appears to be a broker note out of Goldman Sachs this morning.

According to the note, the broker has initiated coverage on the company’s shares with a buy rating and $7.36 price target.

Based on the Webjet share price at yesterday’s close, this price target implies potential upside of 21% over the next 12 months.

Why is Goldman Sachs positive on Webjet?

Goldman believes that Webjet is well-placed to benefit from the travel market recovery. It…