On August 10, GLONGHUI | Daiwa released a report stating that Cathay Pacific's interim results beat expectations, with revenue rising 1.35 times year over year. Among them, passenger revenue soared 13 times year over year, while cargo revenue fell 10%. Passenger and freight yields fell 32% and 52% year-on-year respectively during the period, but were still more than 40% higher than 2019 levels. The bank believes that Cathay Pacific's passenger revenue and operating efficiency for the first half of the year were higher than expected. The company's earnings per share forecast for this year and next two years increased by 62% to 87%. It is expected that passenger transport revenue for this year and next two years will continue to be higher than in 2019. Reiterating that the target price for Cathay Pacific's “buy” rating was raised from HK$9.3 to HK$10.3, I have a positive view of the company's business prospects.
大行评级丨大和：上调国泰航空目标价至10.3港元 评级“买入”
Bank Ratings丨Daiwa: Cathay Pacific Raises Target Price to HK$10.3 Rating “Buy”
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