QAN – Citi rates the stock as Buy

After Qantas Airways’ recent announcement about fleet renewals and media speculation of a capital raise, Citi examines potential capital expenditure, including Project Sunrise, in more detail.

The broker concludes enough capex for fleet renewal and Project Sunrise has been factored-in.

Buy rating and $5.93 target price are unchanged.

Sector: Transportation.


Target price is $5.93.Current Price is $5.55. Difference: $0.38 – (brackets indicate current price is over target). If QAN meets the Citi target it will return approximately 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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