[ET Net News Agency, 16 July 2020] Daiwa Research lowered its target price for Cathay
Pacific Airways (CX)(00293) to HK$6 from HK$6.5 but upgraded its rating to "hold" from
"sell".
The research house said CX's share price reached a new low since the GFC (global
financial crisis) on 15 July. Daiwa believes the current valuation already reflects the
tough situation faced by CX and a very slow recovery going forward.
Daiwa expects CX's net loss in 2020 to be higher than its previous expectation due to
lower-than-expected passenger recovery in 2Q. It anticipates the recovery of air traffic
to and from Hong Kong to remain slow for the rest of the year due to a rebound in the
newly infected cases in Hong Kong.
Daiwa believes weak profitability may extend into 1H 2021, which would lead to net loss
of HK$7.2bn in 2021. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00293 CATHAY PAC AIR
Nominal 
8.060 -0.010 (-0.124%) Others
16/07/2020 11:04
{I-bank focus}Daiwa lowers Cathay Pacific (00293) to HK$6
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |