Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $8.75 price objective on the transportation company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.49% from the company’s previous close.

According to Zacks, “CATHAY PACIFIC AIRWAY’s principal activity is the operation of an international airline based and registered in Hong Kong. Other activities include airline catering, aircraft handling and engineering. The Group offers scheduled passenger and cargo services to 62 destinations around the world. It operates in Hong Kong, Mainland China, Japan, Korea, Taiwan, South East Asia, Middle East, Europe, Pacific and South Africa. “

Shares of Cathay Pacific Airways (CPCAY) traded down 1.7822% during mid-day trading on Tuesday, reaching $7.7101. 357 shares of the company’s stock traded hands. Cathay Pacific Airways has a one year low of $6.36 and a one year high of $8.33. The firm’s market cap is $6.07 billion. The firm’s 50-day moving average is $7.39 and its 200 day moving average is $7.10.

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About Cathay Pacific Airways

Cathay Pacific Airways Limited is a Hong Kong-based investment holding company principally engaged in airline and related businesses. The Company operates through two segments. The Airline segment is engaged in passenger transport and cargo transport. The Non-airline segment is engaged in the provision of catering, ground handling and aircraft ramp handling services, as well as cargo terminals operation.

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