Australia's Qantas hits record high as Jefferies lifts price target [Yahoo! Finance]
QANTAS AIR LTD S/ADR NEW (QABSY)
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Source: Yahoo! Finance
(Reuters) - Shares of Qantas Airways hit an all-time high on Wednesday after Jefferies analysts hiked their price target on Australia's flag carrier, on the back of low fuel costs and expectations of a dividend payment. Qantas stock rose as much as 3.6% to a record high of A$7.830 by 0054 GMT. It was on track for its strongest session since late August and is among the top gainers on the benchmark index, which was up 0.2%. On Tuesday, Jefferies analysts raised their price target on the airline to A$10.53 from A$7.98, as strong domestic and international demand has raised expectations of a dividend payment along with its first-half earnings in February. A slowdown in oil prices amid higher U.S. crude inventories has also helped bolster expectations for stronger earnings for the carrier. [O/R] "We expect demand to have remained stable following the release of FY24 results, however the price of fuel has trended lower allowing for more discounting and investment into customer ser
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