Glonway, August 11 | According to a report released by Lyon, Pacific's recurring profit increased 3.8 times year-on-year to HK$4.9 billion in the first half of the year, and all three core businesses recorded growth. The bank raised its annual recurring profit forecast by 21%, but lowered its forecast for next year by 2%, mainly reflecting the latest profit forecast for Cathay Pacific. According to the report, after selling the Pacific Coca Cola business in the US, the group's current goal is to achieve regular dividend growth in the number of units in China. The bank lowered its target price from HK$68 to HK$62, and downgraded its rating from “buy” to “outperform the market.”