MARKETS SPECTATOR: Aviation updraft

Citigroup says Qantas stock is a buy ahead of a "watershed year" for the two big Australian airlines.

Citigroup's aviation analyst in Australia, Anthony Moulder, says Qantas shares are a buy and has a $2.30 price target for the stock.

At 1025 AEST Qantas shares were up 5 cents, or 3.3 per cent, to $1.57, while the S&P/ASX200 Index was up 16.748 points, or 0.3 per cent, to 4987.40 points after choppy early trade.

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