According to a report published by Glonway on July 18, Lyon issued a profit forecast of HK$4 billion to HK$4.5 billion in the first half of the year, which is higher than the bank's and market expectations. It is expected to benefit from strong passenger transport earnings and raise the profit forecast for 2023 from HK$5.2 billion to HK$7.9 billion. Cathay Pacific also announced plans to redeem its preferred shares within the next 12 months, so the bank expects the company to pay common stock dividends in 2024. The bank said it raised its target price from HK$10 to HK$10.6 to maintain its “buy” rating.
大行评级 | 里昂：上调国泰目标价至10.6港元 评级“买入”
Bank Ratings | Lyon: Cathay Pacific Raises Target Price to HK$10.6 Rating “Buy”
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