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BROKERS’ TAKE

Jefferies Equity upgrades Cathay Pacific to a 'buy'

It also raises its price target on the airline to HK$8.70 from HK$6.30 previously

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Cathay's monthly passenger traffic has declined 97-99 per cent y-o-y since April 2020 and Jefferies expects limited near-term impact from the Hong Kong-Singapore air travel bubble.

Singapore

JEFFERIES Equity Research has upgraded its rating on Cathay Pacific Airways to "buy" from "hold", while raising its price target to HK$8.70 from HK$6.30 previously.

The stock closed at HK$7.36 on Thursday, up HK$0.34 or 4.84 per cent.

"Earnings-wise, Cathay remains...

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