$QANTAS AIRWAYS LIMITED(QAN.AU)$
I aleady own stock with my NZ broker a I've now opened further positions with Tiger.
"Economy Qantas, you wouldn't know the meaning of the word"
✈️🅱🆄🅻🅻🅸🆂🅷 B̤̮Ṳ̮L̤̮L̤̮I̤̮S̤̮H̤̮ 🅑🅤🅛🅛🅘🅢🅗
🗞️📰🚨 Oct 23 (Reuters) - Shares of Qantas Airways QAN.AX hit an all-time high on Wednesday after Jefferies analysts hiked their price target on Australia's flag carrier, on the back of low fuel costs and expectations of a dividend payment.
Qantas stock rose as much as 3.6% to a record high of A$7.830 by 0054 GMT. It was on track for its strongest session since late August and is among the top gainers on the benchmark index .AXJO, which was up 0.2%.
On Tuesday, Jefferies analysts raised their price target on the airline to A$10.53 from A$7.98, as strong domestic and international demand has raised expectations of a dividend payment along with its first-half earnings in February.
A slowdown in oil prices amid higher U.S. crude inventories has also helped bolster expectations for stronger earnings for the carrier. O/R
"We expect demand to have remained stable following the release of FY24 results, however the price of fuel has trended lower allowing for more discounting and investment into customer service," the analysts said.
Lower oil/jet fuel prices are benefiting Qantas both directly to their earnings and indirectly by raising the valuations of the global airline peers, said Owen Birrell, senior equity research analyst at RBC Capital markets.
Qantas' shares had risen nearly 41% this year, as of last close.
The ASX broker stated that higher earnings expectations, a lower oil price, and a possible return to dividend status for Qantas shares could spur a re-rating of Qantas' shares:
With Qantas now widely expected to return to dividend paying status in 1H25, we expect a key platform to the re-rate of Qantas will be clearer to the market inside the next 4 months.
🛫🛫🛫🛫🛫🛫🛫🛫🛫✈️✈️✈️✈️✈️✈️✈️
The trial for the new Australian Digital Travel Declaration (ATD) has kicked off via the Qantas app 📱
Qantas customers travelling from 🇳🇿 New Zealand have become the first to experience the fast-tracked arrival process, as part of a joint initiative with the 🇦🇺 Australian Government .
Qantas is the first to pilot the ATD, which is a digital replacement for the current paper Incoming Passenger Card.
The ATD is now available for eligible passengers travelling from Auckland to Brisbane (initially on flight QF126). The program will be expanded to include customers travelling from other New Zealand cities to Brisbane in the coming days ahead of additional Australian destinations joining the program early next year.
The Boeing 787-9 Dreamliners are returning to Brisbane!
Qantas announced a number of upcoming changes to our international schedule, which include:
▪️ Boeing 787-9 Dreamliners to begin flying from Brisbane on Los Angeles & Auckland routes in August 2025
▪️ Airbus A380 to return on Sydney to Dallas route in August 2025, with all 10 A380s to be back in service by early 2026
▪️ A new route to commence between Brisbane and Palau in the Pacific in the coming months*
▪️ Airbus A220 to operate internationally for the first time, flying on the new Darwin to Singapore route from March 2025*
▪️ Brisbane to Noumea flights to recommence in December 2024 with Embraer E190 aircraft operating on the route for the first time
▪️ Sydney to Seoul flights operated by Qantas to cease in June 2025, with Jetstar increasing flights from four times per week to daily
* 𝘚𝘶𝘣𝘫𝘦𝘤𝘵 𝘵𝘰 𝘨𝘰𝘷𝘦𝘳𝘯𝘮𝘦𝘯𝘵 𝘢𝘯𝘥 𝘳𝘦𝘨𝘶𝘭𝘢𝘵𝘰𝘳𝘺 𝘢𝘱𝘱𝘳𝘰𝘷𝘢𝘭
@ASX_Stars @TigerGPT_AU @TigerGPT @Tiger_comments @TigerPM @TigerStars @TigerObserver @TigerPicks @koolgal - yay for the 25Q1 dividend 😍😍😍
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The share price of Qantas Airways Limited (QAN.AX) hit an all-time high on October 23, 2024. This surge in price can be attributed to a few factors:
Jefferies analysts raised their price target on Qantas Airways: Jefferies analysts increased their price target on Qantas Airways from A$7.98 to A$10.53. This positive recommendation is based on low fuel costs, strong domestic and international demand, and expectations of a dividend payment. The revised price target raised investor confidence and contributed to the stock's upward movement.
Lower oil prices: A slowdown in oil prices, coupled with higher U.S. crude inventories, has benefited Qantas Airways. Lower fuel costs have positively impacted the company's earnings and raised expectations for stronger financial performance.
Positive market sentiment: The broader market sentiment and the benchmark index, AXJO, were also showing positive momentum, with the index being up 0.2%. This overall bullish sentiment in the market contributed to the rise in Qantas Airways' share price.
It's worth noting that while the news articles mention the record-high share price, they don't provide specific details on the exact reason behind the surge. However, the factors mentioned above suggest a favorable outlook for Qantas Airways.
Risk Disclaimer:It is important to note that the stock market is subject to various risks and uncertainties. The factors affecting stock prices can change rapidly, and past performance does not guarantee future results. It is essential to conduct thorough research and consider individual financial circumstances before making any investment decisions.
Please keep in mind that the above information is for reference purposes only and should not be considered as investment advice.
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Great article, would you like to share it?