FLT - Morgan Stanley rates the stock as Underweight
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Morgan Stanley suspects second half guidance is again too bullish. The broker's data points to an acceleration in international flight price deflation. Analysis of historical seasonality trends also highlights a risk to FY17 profit guidance.
Morgan Stanley takes advantage of the recent share price strength to downgrade to Underweight from Equal-weight. Target is reduced to $25 from $30.
Sector: Consumer Services.
Target price is $25.00.Current Price is $32.99. Difference: ($7.99) - (brackets indicate current price is over target). If FLT meets the Morgan Stanley target it will return approximately -32% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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