TC

20/08/2019 16:05

{I-bank focus}Goldman cuts Cathay Pacific (00293) to HK$13.9

[ET Net News Agency, 20 August 2019] Goldman Sachs lowered its target price for Cathay
Pacific (00293) to HK$13.9 from HK$16.3 and maintained its "buy" rating, given the
uncertainty in terms of the outlook in light of recent events, CAAC's safety risk warning,
and ongoing US/China trade tensions.
The research house believes that Cathay is likely one of the most affected businesses
concerning the potential duration of the current situation in HK, given its exposure to
inbound travel to HK, the competitive environment, as well as operating and financial
leverage.
However, Goldman thinks the market has already priced in a negative scenario for Cathay.
(KL)

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