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<Research>M Stanley Lifts CATHAY PAC AIR (00293.HK) TP to $11.6 as It Is Less Attractive than CN Big 3 Airlines
Recommend 10 Positive 19 Negative 12 |
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Morgan Stanley released a research report liking CATHAY PAC AIR (00293.HK), mainly due to its attractive dividend yield and strength driven by potential recovery in China's economy. However, considering the potential business and the recovery in demand for leisure travel, its margin upside is not as attractive as the H-shares of the three big Chinese airlines. Therefore, the broker kept rating at Equalweight on CATHAY PAC AIR. Due to slower-than-expected aircraft delivery, Morgan Stanley lowered its 2025/ 2026 ASK forecasts for the Company by 5.7%/ 8.4% each, and lifted its target price to $11.6 from $9.1. AAStocks Financial News |
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