Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
I've been holding Qantas since early 2023 & they have hit the $7.00 mark do you think it is time to take profits and sell out of Qantas? I've heard that they need to upgrade their fleet soon - more cost pressures & if the Government bails out REX and they are back on line - what impact may that have on the Qantas share price? Kind regards Mark
Hi Mark,
At MM only offers General Advice hence we cannot comment on your personal holding.
As you say QAN has enjoyed a stellar advance through 2024 gaining +17.90% year-to-date, outperforming the ASX. We discussed QAN in depth in July being bullish at the time when the stock was closer to $6, now its breached $7 we’re adopting a “cautiously bullish” stance towards the flying kangaroo.
We liked QAN’s recent result which was a relief for the market which had been pricing the airline for lower earnings before being considered sustainable. We think FY25 reflects the new normal of post Covid earnings with a better domestic market structure, a reset approach to the international network, and higher loyalty earnings.
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