Qantas Shares Soar to All-Time High Amid Positive Market Sentiment

January 08, 2025 12:25 PM AEDT | By Team Kalkine Media

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Qantas Shares Soar to All-Time High Amid Positive Market Sentiment — Image source: Shutterstock

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Highlights

Record-Breaking Share Price: Qantas stock hit $9.37, a new all-time high and 52-week record.

Strong 2025 Performance: Shares are up 4.25% year-to-date and 76% over the past 12 months.

Broker Optimism: Morgan Stanley’s “overweight” rating and $10.50 price target fuel investor confidence.

Qantas Airways Ltd (ASX:QAN) has reached new heights, with its share price soaring to an all-time high during Wednesday’s trading session. The national carrier’s stock climbed to $9.37 this morning, surpassing its previous 52-week peak and setting a new milestone in the airline's history on the ASX.

The surge in Qantas shares defied broader market trends, as the S&P/ASX 200 Index gained just 0.24% to 8,304 points after a volatile session. Qantas stock, which closed at $9.29 yesterday, has gained 4.25% in 2025 so far and is up an impressive 76% over the past year.

Investors who seized opportunities during the COVID-19 market crash in 2020, when Qantas shares were trading below $2.20, would now be enjoying returns of over 300%.

What’s Driving the Record High?

Interestingly, today’s rally lacks a clear catalyst. Qantas has not released any major updates since mid-December, when the airline announced a $120 million compensation package for workers affected by COVID-era layoffs.

However, recent broker sentiment appears to be bolstering investor confidence. Morgan Stanley recently gave Qantas an “overweight” rating and set a 12-month price target of $10.50, indicating a potential upside of 12.7% from current levels.

The broker expects Qantas to benefit from falling fuel prices in 2025, which could support ongoing share buybacks and potentially lead to the reinstatement of dividends.

This optimistic outlook has likely contributed to today’s rise, as investors bet on a promising year ahead for the “Flying Kangaroo.”

Qantas isn’t the only ASX stock hitting new heights today. Telstra Group Ltd (ASX:TLS) shares also touched a 52-week high, reaching $4.09 during the morning session.

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