1025 GMT - Cathay Pacific's business outlook for 2025 remains balanced with a fair valuation, analysts at Daiwa Capital Markets write in a note. While passenger yields, especially for long-haul routes, will continue normalizing as expected, there is low visibility in the air-cargo market given U.S. tariff uncertainties, they say. However, unit-cost efficiency remains, and the company expects to gain from operating leverage, they add. Daiwa raises its EPS forecast for 2025 by 3% to reflect the stronger-than-expected annual results, but it cuts its projection for 2026 by 4%, taking into account normalizing yields in the passenger and cargo businesses. Daiwa lifts its target price on the stock to HK$10.50 from HK$10.00 while keeping a hold rating. Shares closed at HK$10.30. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
March 13, 2025 06:25 ET (10:25 GMT)
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