On July 7, Cathay Pacific Airways (00293.HK) rose 3.07% in regular trading, trading at HK$13.34 per share, with turnover of HK$53.82 million.
Multiple positive catalysts converged for the stock. Cathay Pacific announced it will resume passenger flights to the Middle East starting September 1, scheduling daily flights to Dubai and four weekly flights to Riyadh. Meanwhile, research reports highlighted a bullish summer aviation peak season outlook, with oil prices declining to ease airline cost burdens. Separately, UBS forecast Cathay Pacific's first-half net profit at HK$5.2 billion, representing a 41% year-over-year increase, supported by strong passenger demand resilience and robust cargo performance. UBS reiterated a Buy rating with a raised target price of HK$16.9, while HSBC also maintained a Buy rating with a target of HK$15.3, citing favorable high-end travel demand and elevated air freight rates. Additionally, the carrier continues to expand summer capacity with increased frequencies on multiple routes including Xi'an, Manchester, and Rome.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments