No dramas mate... thought you might like this.. 0147 GMT [Dow...

No dramas mate... thought you might like this..

0147 GMT [Dow Jones] Flight Centre (FLT.AU) has scope for capital management, which makes it a standout in the discretionary retail space, says UBS analyst Ben Gilbert. "Once target cash levels are sufficiently exceeded we see upside to the target dividend pay-out to 60-70% (from 50-60%)," he says. Flight Centre, which reported a 10% rise in FY14 pre-tax profit to A$377 million, has a strong global brand that is winning market share through an ongoing roll-out of consultants and a stronger online presence, Gilbert says. He also thinks Flight Centre has a significant long-term opportunity in the U.S., where it has only 1% of the market. UBS rates Flight Centre a buy, but trims its price target by 2.2% to A$53.80. FLT last traded at A$46.68. ([email protected]; @dwinningWSJ)