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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
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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