Citi has released a Research Report indicating that due to increased freight revenue and decreased RBOB Gasoline costs, Cathay Pacific (00293.HK) is likely to exceed its profits in the second half compared to the first half, while the company will also receive a one-time gain of approximately 0.5 billion yuan.

The bank has raised Cathay Pacific's earnings forecast for the fiscal years 2024 and 2025 by 22% and 9%, respectively, but expects profits to peak in the fiscal year 2025 and then decline by 4% in the fiscal year 2026. In addition, the bank has increased Cathay Pacific's Target Price from 9.2 yuan to 10.1 yuan, but due to a decline in Shareholder total ROI, the rating has been downgraded from 'Outperform' to 'Hold'. (js/k)

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