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<Research>CLSA Adds CATHAY PAC AIR (00293.HK) TP to $10.2, Raises 2025/ 2026 Profit Forecasts
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CATHAY PAC AIR (00293.HK)'s 2HFY2024 net profit grew by 2% YoY, beating the expectations of CLSA and the market, according to CLSA's research report. CLSA raised its 2025/ 2026 earnings forecasts for the Group by 34%/57% each, taking into account lower fuel prices, but believed that the risk-reward of the stock is not compelling given rising macro uncertainty. However, CLSA added that CATHAY PAC AIR's earnings are still driven by savings in other operating expenses, with the Group's ROE forecasted to be around 20%. As a result, the broker added its target price for the Group from $10.1 to $10.2, with rating kept at Hold. AAStocks Financial News |
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