Cathay Pacific Set to Gain From Summer Travel, E-Commerce Demand -- Market Talk

Dow Jones07-05

0901 GMT - Cathay Pacific Airways stands to benefit from summer travel and e-commerce demand, Daiwa Capital Markets analysts write in a note. Summer travel is a potential share-price catalyst, as regional and long-haul travel is trending, though growth in revenue passenger-kilometers was lower than expected from January-May as passenger yields continued to normalize, they say. E-commerce and high sea-freight rates are also likely to support Cathay's cargo business, they say, citing higher demand and continuing shipping disruptions. Daiwa upgrades the stock to buy from outperform to reflect optimism over business development. It lowers the target price to HK$9.50 from HK$10.50 to factor in a lower 2024 passenger revenue forecast. Shares closed at HK$8.00. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

July 05, 2024 05:01 ET (09:01 GMT)

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E-commerce and high sea-freight rates are also likely to support Cathay's cargo business, they say, citing higher demand and continuing shipping disruptions. Daiwa upgrades the stock to buy from outperform to reflect optimism over business development. It lowers the target price to HK$9.50 from HK$10.50 to factor in a lower 2024 passenger revenue forecast. Shares closed at HK$8.00. 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Summer travel is a potential share-price catalyst, as ...</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":"00293","symbol_name":"国泰航空","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2449256910","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2449256910","pubTimestamp":1720170060,"columns":[],"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":"0901 GMT - Cathay Pacific Airways stands to benefit from summer travel and e-commerce demand, Daiwa Capital Markets analysts write in a note. 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