Qantas shares have soared to a record high after US investment bank Goldman Sachs upgraded its rating on the airline’s improved earnings growth prospects.
Qantas shares gained as much as 3.7 per cent to hit $6.15 today after Goldman Sachs upgraded its rating on the stock from neutral to buy, and reset the airline’s target price at $6.86 – more than 15 per cent higher than its most recent close.
Goldman Sachs analyst Owen Birrell said Qantas remains well placed to capitalise on a forecast recovery in the Australian domestic travel market led by solid emerging business and international leisure travel demand.
“In our view, the movement in the share price to date has been largely aligned with the global re-rating of peers and is yet to ful…
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