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00293 CATHAY PAC AIR
RTNominal up6.260 +0.090 (+1.459%)
Research Report

06/05/2021 15:57

{I-bank focus}JPM cuts Cathay Pacific (00293) to HK$7.1

[ET Net News Agency, 6 May 2021] J.P. Morgan cut its target price for Cathay Pacific
Airways (00293) to HK$7.1 from HK$8.4 and downgraded its rating to "neutral" from
"overweight".
The research house said HK's easing pandemic profile potentially allows lifting of
mandatory crew quarantine measures for passenger flights and the formation of a "two-way"
travel bubble with China with the "one-way" scheme on track to start in late May, helping
to offset concerns over an overall sluggish broader reopening amid the rapid spread of the
more infectious COVID-19 variants in many parts of the world.
JPM modeled in a much slower ASK recovery, resulting in a larger loss for FY2021 and
another year of loss (though reduced Y/Y) in FY2022. (KL)

Remark: Real time quote last updated: 03/12/2021 18:00
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