Jefferies cuts PT for Australia's Qantas on higher fuel costs
BUZZ-Jefferies cuts PT for Australia's Qantas on higher fuel costs ** Brokerage Jefferies cuts price target on Australia's Qantas Airways QAN.AX to A$11.91 from A$12.80, expecting significantly higher oil prices and jet-fuel refining margins through the first half of fiscal 2027
** Maintains a "buy" rating
** Jefferies says leisure travel demand remains resilient despite weak consumer confidence, while corporate and small-business travel demand is marginally softer, with some traffic shifting to rival Virgin Australia
** Brokerage adds recent capacity reductions by Australian airlines, including Qantas, aimed at reducing fuel consumption rather than responding to weaker demand, with cuts concentrated on longer-haul routes
** 14 of 15 analysts rate the stock "buy" or higher, one "hold"; their median PT is A$11.51, according to data compiled by LSEG
** Stock has fallen 0.6% this year, as of last close
(Reporting by Roshan Thomas in Bengaluru)
Recent news on Qantas Airways
See all newsBrief: Qantas Expects H1 Total Unit Revenue Growth Of 8-10% Across Both Group International And Domestic
Brief: Qantas Airways Expects 1H27 Fuel Cost Of About A$3.75 BLN
Brief: Qantas Says To Launch First Non-Stop Flights Between Australia And Cape Town
Brief: Qantas Says Group Investing Heavily In New Aircraft
Australia's Qantas lifts first-half fuel cost forecast, sees prices staying high (updated)