The Webjet Limited (ASX: WEB) share price has been outperforming in 2022 and some experts are tipping it could go higher.
However, some are still wary of the previously embattled S&P/ASX 200 Index (ASX: XJO) travel giant.
At the time of writing, the Webjet share price is trading at $6.03. That’s 11% higher than it was at the start of 2022. In comparison, the ASX 200 has tumbled 4.5% in that time.
Could Webjet’s stock have another 25% left in the tank? Let’s take a look at what experts are tipping for the ASX travel stock.
Could the Webjet share price gain another 25%?
The Webjet share price has taken off in 2022. Additionally, the company returned to profitability in the second half of the financial year.
In fact, Webjet is expecting to reach pre-pandemic booking levels sometime between October 2022 and March 2023.
Does that mean the stock’s rise will soon stall? Well, that depends on who you ask.
Arguing for the bulls is Ord Minnett. The broker is tipping the Webjet share price to reach $7.48 – a whopping 24.45% higher.
It expects Webjet to win on the recovery of business travel, The Motley Fool Australia’s Tristan Harrison reported last month.
Morgans and Citi are also hopeful for Webjet’s future. They’ve slapped the stock with price targets of $6.55 and $6.75 respectively. Both brokers are impressed by Webjet’s market in the United States.
Morgans also likes the company’s lower post-COVID cost base and consolidated system.
On the other side of the argument, Macquarie analysts are tipping the Webjet share price to fall to $5.80.
QVG Capital‘s Josh Clark is also bearish on Webjet. The portfolio manager told Livewire the company’s enterprise value appears to have recovered from the pandemic despite continuing re-opening related risks and unknowns.
The post Could the current Webjet share price offer a 25% upside? appeared first on The Motley Fool Australia.
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Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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