0947 GMT - Cathay Pacific's earnings growth will likely remain steady over the next two years despite ticket-pricing pressure and cargo headwinds, DBS Group Research says in a note. Passenger revenue growth, lower ex-fuel unit costs, cheaper fuel and higher contributions from associate Air China could drive core net profit through 2026, analysts Jason Sum and Tabitha Foo say. These factors will likely offset cargo headwinds amid trade tensions and further moderation in passenger yields as supply-demand dynamics normalize, they add. Cathay's 6%-7% dividend yield should help limit share-price downside, they write. DBS raises its target price on the stock to HK$12.20 from HK$12.00 while keeping a buy rating. Shares closed at HK$10.30. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
March 13, 2025 05:47 ET (09:47 GMT)
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