Flight Centre Travel Group Ltd (ASX: FLT) saw its stock price soar 5.14% during intraday trading on Wednesday. The significant upward movement comes as the travel agent's shares traded ex-dividend, with the company set to pay shareholders a dividend of 12 cents per share on April 16.

The surge follows a period of weakness for the travel share, which had tumbled to a six-year low earlier in the week amid broader market concerns related to geopolitical tensions in the Middle East. Analysts have maintained optimistic views on the stock, with Citi retaining a buy rating and a price target of $16.75, suggesting substantial potential upside from recent levels.

Investor sentiment appears to be shifting as some market participants view the recent pullback as a buying opportunity for a company that has streamlined its operations and could benefit from resilient travel demand. The ex-dividend event typically prompts trading activity as investors position themselves to capture dividend payments.