0055 GMT - Qantas Airways looks attractive to its bulls at UBS even in a crisis. With an unchanged buy rating on the stock, UBS analysts acknowledge the continued impact on fuel costs of the U.S.-Iran conflict, but say the Australian carrier's performance to date highlights its flexibility amid challenging circumstances. They lower their earnings forecasts but tell clients in a note that Qantas's fiscal 2026 performance shows demand for travel isn't just resilient, but actually strong. UBS raises its target price 4.0% to 11.60 Australian dollars. Shares are down 0.9% at A$9.57.
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