Qantas Maps Out Path To Higher Margins
Qantas shares have hit a new series of all-time highs after an investor briefing proved to be what investors wanted to hear from the airline.
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News
Qantas Shares Grounded As Costs Out Story Fails To Convince
Qantas shares sold off yesterday after the September quarter trading update yesterday left investors unimpressed.
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Buyback Cuts Through Qantas Headwinds
Qantas shares ended the day up nearly 5% at one stage yesterday as the market concluded the airline’s 2018-19 result wasn’t as bad as a 17% slide in net earnings might say.
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Virgin Shares Nosedive After New Earnings Downgrade
New CEO, new broom, new guidance, lower profit, kitchen sink to come? Sound familiar? Well, that’s what we got from Virgin Australia on Friday morning and it raises questions about the health of the domestic and international aviation markets.
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Qantas Ups Dividend, New Buyback Despite Fuel Headwinds
Qantas shares were sold off and then drifted higher yesterday in the wake of the announcement of another lift in dividend and share buyback.
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Analyst Views
QAN – UBS rates the stock as Buy
UBS considers the most material disclosure at the company's investor briefing was a five-year target for Qantas domestic earnings (EBIT) growth of 18% and 22% for Jetstar domestic.
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QAN – UBS rates the stock as Buy
UBS suspects changes in focus at competitor Virgin Australia ((VAH)) should mean Qantas will maintain an advantage and Virgin will not be able to rely solely on cost initiatives to improve profitability.
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QAN – Morgan Stanley rates the stock as Upgrade to Overweight from Equal-weight
Morgan Stanley assesses, while some early demand indicators for FY20 are subdued, there is more confidence the downside risks are captured and there is limited near-term impact from volatility in the oil price.
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QAN – Deutsche Bank rates the stock as Buy
The US government has tentatively approved Qantas' proposed expanded alliance and revenue pooling agreement with American Airlines. The arrangement will mean the two carriers co-ordinate flight schedules, pricing and capacity and share revenue on international routes between the US, Australia and New Zealand.
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QAN – Credit Suisse rates the stock as Neutral
Despite signs of consumer weakness in many other sectors, management considers the current demand environment is healthy. First half pre-tax profit was slightly below Credit Suisse estimates.
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