S&P/ASX 200 Index (ASX: XJO) shares are down 0.4% to 9,115.6 points on Thursday.
Meanwhile, brokers have altered their ratings on several ASX shares this week.
Let's take a look at those stocks.
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Qantas Airways Ltd (ASX: QAN)
The Qantas share price is $9.86, down 1.1% today and up 1% over 12 months.
Over the past month, this ASX travel share has shot 15% higher.
Morgans downgraded Qantas shares to a buy rating this week.
The broker cut its 12-month price target from $10.60 to $9.60.
This implies a potential 3% downside ahead.
Morgans analyst Christopher Creech noted resilient travel demand and higher fares were partly offsetting higher fuel costs.
Creech said:
1H27 fuel costs have increased to ~$3.75bn from $3.6bn at the FY26 result, reflecting elevated oil prices and jet fuel crack spreads.
Despite the higher fuel burden, travel demand remains resilient … as QAN continues to offset cost pressures through higher fares and strong load factors.
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is $12.09, down 2.5% today and down 1% over 12 months.
Over the past month, this ASX consumer discretionary share has ripped 18%.
Morgan Stanley downgraded Flight Centre shares to a hold rating yesterday.
The broker cut its 12-month price target from $15 to $13.50.
This suggests a potential 11% upside ahead.
Monadelphous Group Ltd (ASX: MND)
The Monadelphous share price is $34.53, down 1% today and up 29% over 12 months.
Over the past month, this ASX industrials share has risen 12%.
Bell Potter upgraded Monadelphous shares to a buy call on Tuesday.
The broker raised its 12-month price target from $31 to $36.
This indicates a potential 5% upside ahead.
Smartgroup Corporation Ltd (ASX: SIQ)
The Smartgroup share price is $11.24, down 2.3% today and up 34% over 12 months.
Over the past month, this ASX industrials share has fallen 1%.
Canaccord Genuity downgraded Smartgroup shares to a hold rating yesterday.
The broker increased its price target from $10.90 to $11.20.
This implies a potential 1% downside ahead.
Codan Ltd (ASX: CDA)
The Codan share price is $56.86, down 1.8% today and up 71% over 12 months.
Over the past month, this ASX tech share has fallen 16%.
UBS upgraded Codan shares to a buy recommendation on Tuesday.
The broker has a 12-month price target of $70.35.
This indicates possible gains of 25% over the next year.
FDC Consolidated Holdings Ltd (ASX: FDC)
The FDC share price is $3.70, up 1.8% on Thursday and up 10% over 12 months.
Over the past month, this ASX industrials share has edged 4% lower.
Morgans upgraded the construction and building services contractor to a buy call yesterday.
The broker shaved its 12-month price target from $4.27 to $4.25.
This suggest a potential 14% upside ahead.
