QAN released their Q1 trading update today.
With total revenue up 6.3% and forward bookings up 8% on the same period last year, we expected the share price to have risen in early trade.
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However, with widespread downside pressure across the ASX today, QAN has slipped to $5.40.
This is in the middle of our recent $5.45 to $5.35 buy zone. As such, we suggest investors add to long positions with a medium-term price target in the $7.20 range.
QANTAS
