Qantas has been awarded with a series of broker upgrades, following yesterday’s revised profit guidance.

Merrill Lynch upped the target price on the stock to 3 dollars, from $2.85.

Credit Suisse added 25 cents to its target to $3.50.

And JP Morgan, one of the more bullish brokers, raised its forecast to $3.33 from $3.02.

These upgrades came after the airline said first half profits would likely be better than previously expected, thanks to an increase in the number of passengers flying.
Source: bigpondnews