Hi all,
Good share price movement today, which is partly explained by Goldman Sachs upgrade (from hold to buy). I am citing from their report.
Risks to Australian domestic reopening diminishing; government actions suggest timing could occur pre-Christmas
We have become more confident that a re-opening of Australian domestic aviation markets will occur pre-Christmas given: (i) the alignment of the rates of community transmission across the Australia states; (ii) recent moves to relax border restrictions; and (iii) the introduction of tourism stimulus, all ahead of the critical summer holiday period. We expect a staggered approach to the re-opening of the Australian states starting with NSW, and the formation of a limited trans-Tasman bubble from December.
NZ experience suggests pent-up demand will deliver a solid recovery profile
In order to model the magnitude of the recovery, we draw on the NZ domestic market experience which has shown a solid recovery in domestic activity to c.70% of pre-covid levels, led by (i) solid elastic demand for leisure travel; (ii) supplemented by a 65-70% recovery in corporate travel; (iii) positive reception to sale events; (iv) facilitating good load factors and RASK growth.
Prefer Australian domestic exposure; Risk/return on airlines has improved; Buy QAN.AX, SYD.AX
Our overarching view is a preference for Australian exposed stocks, given: (i) the Australian domestic recovery remains in its infancy; and (ii) the stocks are better structured to profitably leverage a domestic market recovery. Further, with our increased confidence in the near term resumption of domestic activity in Australia, we now believe the risk/return balance for airlines is more attractive. We revise our estimates and 12-month target prices across our coverage, we upgrade QAN to Buy from Neutral (TP A$5.28, +30% upside) and reiterate Buy on SYD.AX (TP A$7.02, +19% upside). We remain Sell rated on AIR.NZ (TP NZ$1.34, -4% downside).
- Forums
- ASX - By Stock
- Mr Joyce please return half your $23m salary
Hi all,Good share price movement today, which is partly...
- There are more pages in this discussion • 65 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add QAN (ASX) to my watchlist
(20min delay)
|
|||||
Last
$5.87 |
Change
0.025(0.43%) |
Mkt cap ! $9.556B |
Open | High | Low | Value | Volume |
$5.87 | $5.89 | $5.84 | $6.667M | 1.137M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
35 | 24326 | $5.86 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.87 | 43763 | 62 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
38 | 27807 | 5.860 |
30 | 49545 | 5.850 |
20 | 84978 | 5.840 |
18 | 136347 | 5.830 |
11 | 31922 | 5.820 |
Price($) | Vol. | No. |
---|---|---|
5.870 | 45191 | 62 |
5.880 | 67014 | 25 |
5.890 | 75515 | 19 |
5.900 | 97479 | 46 |
5.910 | 158322 | 9 |
Last trade - 13.52pm 03/05/2024 (20 minute delay) ? |
|
|||||
Last
$5.88 |
  |
Change
0.025 ( 0.47 %) |
|||
Open | High | Low | Volume | ||
$5.87 | $5.89 | $5.83 | 767773 | ||
Last updated 14.08pm 03/05/2024 ? |
Featured News
QAN (ASX) Chart |