Company Interview / Buying the “dogs" of the ASX 200

Key points:

Roberts sets out a positive outlook on Flight Centre (ASX:FLT) and would buy at current levels Views AI and proprietary data as structural advantages for Flight Centre rather than threats Highlights insider buying and “dogs of the ASX 200” framework

Stuart Roberts from Stocks Down Under sets out a bullish view on Flight Centre (ASX:FLT), arguing that Australians’ appetite for outbound travel remains robust despite geopolitical tensions and cost‑of‑living pressures. Roberts points to decades of rising outbound travel and notes his own recent long‑haul trip as typical of this resilience. He stresses that Flight Centre’s combination of traditional shopfront agents and newer digital models, plus a portfolio of brands, creates what he regards as a “near bulletproof” growth profile.

Roberts highlights consensus expectations for steady EBITDA growth through FY26–FY28, yet notes the market currently prices Flight Centre “like it’s going out of business”. He emphasises the role of proprietary data and AI as a net positive, enabling cost savings and better customer communication, rather than a threat. Insider buying is another plank in his thesis: founder Graham Turner recently purchased around $1 million worth of $FLT stock at roughly $10.15, which Roberts views as a strong signal.

Positioning Flight Centre within the “dogs of the ASX 200” theme, Roberts also flags Pilbara Minerals (ASX:PLS), Premier Investments (ASX:PMV) and Treasury Wine Estates (ASX:TWE) as beaten‑down names with potential. He cites resilient consumer demand for brands like Smiggle and 19 Crimes as supporting his constructive stance.