Morningstar says Qantas Airways stock is 'roughly fairly valued'
BUZZ-Morningstar says Qantas Airways stock is 'roughly fairly valued' ** Morningstar keeps fair value estimate for Australian flag carrier Qantas Airways QAN.AX unchanged at A$10, says shares are 'roughly fairly valued'
** Investment research firm's lower earnings forecasts for QAN are broadly offset by lower capital expenditure forecasts with accelerated retirement of company's A380 fleet, it says
** Morningstar says fuel costs will be less pronounced in long-term earnings as all operators share the cost almost equally and will be passed through customers over time
** QAN posted an upbeat revenue outlook on Thursday and a 14% fall in annual underlying profit on sharp rise in fuel prices
** Fourteen of 15 analysts rate the stock "buy" or higher, and one "hold"; their median price target is A$11.90, as per data compiled by LSEG, implying an upside of 26.3% to stock's last close
** Stock is down 9% YTD, as of last close
(Reporting by Anjali Singh in Bengaluru)
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