0429 GMT - Qantas Airways generates cautious optimism at Morgans, where analyst Chris Creech sees fleet investment supporting multiyear earnings growth. Initiating coverage with an accumulate rating, Creech tells clients in a note that the Australian carrier's next fiscal year looks to be one of transition as the one-off costs of introducing new aircraft continue to move through the business. As each new plane type reaches scale, costs such as pilot training, engineer certification and spare-parts inventory build will begin to roll off, Creech notes. With post-Covid balance-sheet strengthening and cost discipline helping Qantas absorb this year's spike in fuel costs and consumer softness, Creech sees potential for upward revisions to his conservative forecasts. Morgans places a 11.50 Australian dollars target price on the stock, which rises 0.5% to A$10.62. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 07, 2026 00:29 ET (04:29 GMT)

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