Business
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…
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