Questions of the Week – Flight Centre

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Question: I have some Flight Centre shares. At $61-62 per share, would you recommend selling or holding them?

Answer (By Paul Rickard): I was wrong on Flight Centre (FLT) last year (buying, and then selling out at a loss at much lower prices), and am somewhat reluctant to express a call. The run has been pretty amazing for Flight Centre and other perceived growth stocks – so I guess they all look quite expensive.

According to FN Arena, the brokers have a consensus target price of $53.14, about 14.8% lower than the last price of $62.36. There are two buy recommendations, three neutral recommendations and two sell recommendations. It is trading on a multiple of 22.8 times FY18 earnings and 20.7 times FY19 forecast earnings.

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