Cathay Pacific Airways Ltd. (CPCAY) Lifted to Buy at Zacks Investment Research
Cathay Pacific Airways Ltd. (OTCMKTS:CPCAY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $9.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.84% from the stock’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. “
Separately, Goldman Sachs Group, Inc. (The) raised Cathay Pacific Airways from a “neutral” rating to a “buy” rating in a report on Thursday, August 17th.
Shares of Cathay Pacific Airways (CPCAY) remained flat at $8.12 during trading on Tuesday. 2 shares of the company traded hands. The firm’s 50-day moving average price is $7.55 and its 200 day moving average price is $7.51. The company’s market cap is $6.39 billion. Cathay Pacific Airways has a 12-month low of $6.36 and a 12-month high of $8.15.
Cathay Pacific Airways Company Profile
Cathay Pacific Airways Limited is a Hong Kong-based investment holding company principally engaged in airline and related businesses. The Company operates its businesses 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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