Buying the dogs of the ASX 200

Which are the dogs of the ASX 200?

Our own Stuart Roberts sets out a bullish view on Flight Centre (ASX:FLT) on AusBiz on Friday, arguing that Australians’ appetite for outbound travel remains robust despite geopolitical tensions and cost‑of‑living pressures. Stuart 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.