The Flight Centre Travel Group Ltd (ASX: FLT) share price has been rangebound today and is currently 0.40% in the red at $17.58.
Shares in the travel retailer have been in sideways territory for the bulk of July–August, following a sudden nosedive back on 8 June.
Are Flight Centre shares a buy?
According to brokers covering the share, opinion is split between the group. Several changes were made to ratings post Flight Centre's FY22 earnings.
The company narrowed its net-loss projections down from $225 million to $190 million at the upper range of guidance. It also increased its FY22 guidance, prompting several analyst revisions.
Flight Centre is rated a buy from 3 out of 13 analysts, with 7 urging the clients to presently hold positions, per Refinitiv Eikon data.
There are also 4 sell ratings from this list. However, the consensus of broker price targets is $18.88 per share, suggesting sentiment is tilted bullish.
This price objective implies a return potential of more than 6% from the current market price if the brokers are correct.
One broker who's a little more cautious is Jefferies. Analysts at the investment bank led by M. Simotas foresee wages, reduced online sales, inflation and weaker sentiment as likely to impact Flight Centre's FY23 earnings.
Simotas and team noted that airlines have cut their global emissions targets, a move that could materially impact Flight Centre's top-and-bottom-line.
Despite this, it lowered its FY23 EBITA forecasts to a loss of $295 million from a $305 million estimated loss.
Meanwhile, researchers at rival investment banks UBS, Macquarie and Barclay Pearce are each neutral on the share as well, with the latter revising its rating up from a sell last month.
In the last 12 months, the Flight Centre share price has clipped a 19% gain.
