Australia's Web Travel slides after Morgan Stanley cuts TP

** Shares of Web Travel Group WEB falls 3.9% to A$4.22

** Stock among top losers on the S&P/ASX 200 index XJO

** Morgan Stanley cuts the online travel portal's target price to A$4.00 from A$4.25, keeps “underweight” rating

** Brokerage cites slowing growth in bookings and declining proportion of revenue retained from transactions, known as take rates, as key risks

** Says rivals like Expedia and HBX have stronger access to high-margin, directly sourced inventory and are better placed amid price competition

** 14 of 17 analysts rate the stock "buy" or higher, two "hold" and one "sell"; their median PT is A$6.08 – LSEG data

** Including session's moves, WEB down 7.3% YTD