With expectations of a strong 1H14 result and possible earnings upgrade, Morgans believe the Flight Centre Travel (FLT) share price will outperform this reporting season. The broker has forecast an underlying NPAT of A$102.0m, up 11% on the pcp with forecast an interim dividend of 52cps, fully franked, up from 46cps the pcp. Senior Analyst, Belinda Moore says, AUD fluctuations have not impacted Australian outbound travel demand, which remains strong, and FLT continues to win market share. Morgans forecast sits just above FLT's guidance, however, the broker highlights there is upside risk noting two upgrades in FY13 on the back of generally conservative guidance. Moore says in the current economic environment, few ASX100 companies are reporting the quantum of earnings growth we expect from FLT. We believe that growth will be rewarded and that the company deserves to trade on premium multiples. (VIEW LINK)