Cathay Pacific's Operating Profit May Have Peaked -- Market Talk

Dow Jones06-26

0701 GMT - Cathay Pacific's operating profit may have seen its peak, says Andrew Lee, equity analyst at Jefferies. Passenger yields so far this year remain on the same trend as in 2023, while passenger capacity has reached 80% of prepandemic levels, Lee writes in a note. The airline also aims to hire an additional 5,000 staff this year, and 400 pilots to operate flights at 100% passenger capacity, Lee says. Jefferies retains a buy rating on the stock, seeing room for more gains, but trims its target price to HK$9.80 from HK$10.50 to reflect higher expected staff costs. Shares are 0.25% higher at HK$8.07. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

June 26, 2024 03:01 ET (07:01 GMT)

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Passenger yields so far this year remain on the same trend as in 2023, while ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CPCAY","symbol_name":"国泰航空ADR","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2446329303","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2446329303","pubTimestamp":1719385260,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0701 GMT - Cathay Pacific's operating profit may have seen its peak, says Andrew Lee, equity analyst at Jefferies. 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