Qantas at record after Morningstar, Jefferies both positive on airline
Updates
** Shares of Australia's Qantas Airways QAN.AX rise 1.4% to hit a record high
** Morningstar says Australia's Qantas' QAN.AX first-half earnings are shaping up to be a little stronger than the market currently estimates, owing to a lower fuel bill and improved domestic pricing
** Australia's national airline on Friday raised first-half domestic revenue expectations and said it was on track to restart dividend payments from the second half, sending shares to a record high
** Jefferies lifts PT on the airline to A$10.86 from A$10.53
** Says Qantas' market update highlights stable industry demand situation while seeing improvement in domestic revenue available per seat per kilometre
** Much of the domestic outperformance is thanks to budget brand Jetstar, says Morningstar
** Morningstar expects earnings benefit from lower fuel costs to be short-lived for Qantas
** Reductions in fuel costs are typically competed away over time, reflecting high competition among airlines - Brokerage
** Stock has risen 49.5% this year, as of last close
Reporting by Rishav Chatterjee in Bengaluru; Editing by Lisa Shumaker and Stephen Coates
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