QAN was recently added to UBS’s best stock ideas list with the belief that COVID induced capital disruption is almost in the rear view mirror with a return to free cash flow into the next FY. Arguably most importantly QAN trades at a ~10% discount to global airlines which MM doesn’t believe is warranted although with the cost of living soaring in Australia and a new Labor government the unions might become an issue moving forward.
MM is long and bullish QAN
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