Qantas Airways Upgraded to Overweight by Commonwealth Bank (QAN)
Qantas Airways (ASX:QAN) was upgraded by stock analysts at Commonwealth Bank from a “neutral” rating to an “overweight” rating in a report issued on Wednesday, Analyst Ratings Network.com reports.
A number of other firms have also recently commented on QAN. Analysts at UBS AG reiterated a “buy” rating on shares of Qantas Airways (ASX:QAN) in a research note to investors on Tuesday. Separately, analysts at CIMB reiterated an “outperform” rating on shares of Qantas Airways (ASX:QAN) in a research note to investors on Wednesday, September 11th.
One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Qantas Airways has a consensus rating of “Buy” and an average target price of A$1.81 ($1.67).
Shares of Qantas Airways (ASX:QAN) traded up 0.68% during mid-day trading on Wednesday, hitting A$1.485. 9,444,705 shares of the company’s stock traded hands. Qantas Airways has a 52-week low of A$1.180 and a 52-week high of A$1.900. The stock’s 50-day moving average is A$1.30 and its 200-day moving average is A$1.51. The company has a market cap of A$3.295 billion and a P/E ratio of 737.50.
Qantas Airways Limited is engaged in the operation of international and domestic air transportation services, the provision of freight services and the operation of a frequent flyer loyalty program.
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