Flight Centre Travel upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Lisa Deng upgraded Flight Centre Travel to Neutral from Sell with a price target of A$20.30, up from A$19.50. The firm’s channel checks suggest the potential merger of Amex GBT and CWT may offer opportunities for FCM as it would become the number three player in the U.S. on completion, says the analyst, who notes that the stock is down 7.4% since the firm had downgraded shares to Sell on April 8.