Cathay Pacific Looks Focused on Long-Term Growth -- Market Talk

Dow Jones08-08

0831 GMT - Cathay Pacific appears to be turning its focus toward long-term growth, the DBS Group Research team writes in a note. Its postpandemic rebuilding is nearly complete, and has committed HK$100 billion over the next seven years to fleet expansion, as well as features such as cabins and on-board Wifi to encourage customer loyalty, they say. DBS keeps its earnings forecasts largely unchanged as reductions to capacity growth and load factor assumptions are countered by improved passenger and cargo yields. DBS maintains a buy rating but trims the target price to HK$10.80 from HK$12.00 to reflect the rolling valuation peg to 4.8X estimated FY24-25 Ebitda from 5.1X previously. Shares closed 0.6% higher at HK$7.88. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

August 08, 2024 04:31 ET (08:31 GMT)

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Its postpandemic rebuilding is nearly complete, and has committed HK$...</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":"LU0011963245.USD","symbol_name":"abrdn SICAV I ASIA PACIFIC SUSTAINAB  LE EQUITY \"A\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2457631383","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2457631383","pubTimestamp":1723105860,"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":"0831 GMT - Cathay Pacific appears to be turning its focus toward long-term growth, the DBS Group Research team writes in a note. Its postpandemic rebuilding is nearly complete, and has committed HK$100 billion over the next seven years to fleet expansion, as well as features such as cabins and on-board Wifi to encourage customer loyalty, they say. DBS keeps its earnings forecasts largely unchanged as reductions to capacity growth and load factor assumptions are countered by improved passenger and cargo yields. DBS maintains a buy rating but trims the target price to HK$10.80 from HK$12.00 to reflect the rolling valuation peg to 4.8X estimated FY24-25 Ebitda from 5.1X previously. Shares closed 0.6% higher at HK$7.88. 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Its postpandemic rebuilding is nearly complete, and has committed HK$100 billion over the next seven years to fleet expansion, as well as features such as cabins and on-board Wifi to encourage customer loyalty, they say. DBS keeps its earnings forecasts largely unchanged as reductions to capacity growth and load factor assumptions are countered by improved passenger and cargo yields. DBS maintains a buy rating but trims the target price to HK$10.80 from HK$12.00 to reflect the rolling valuation peg to 4.8X estimated FY24-25 Ebitda from 5.1X previously. Shares closed 0.6% higher at HK$7.88. 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