The Zhitong Finance App learned that since Cathay Pacific (00293)'s air cargo exposure is higher than that of its peers, it was included in the positive catalyst watch list to benefit from the mainland's tight fleet capacity, continued cross-border e-commerce boom, and sea and air cargo spillover demand brought about by customers looking for alternatives under the Red Sea crisis. The bank raised Cathay Pacific's net profit forecast for the 2023-2024 fiscal year by about 5% each, about 10% higher than the market forecast, and raised the target price of HK$11 slightly to HK$11.2, with a rating of “increase in holdings”. Recent catalysts include profit beating expectations in the second half of last year; resuming regular dividends; and a further surge in freight rates after the Lunar New Year holiday if the Red Sea crisis is not resolved.