The latest market discussions covering the automotive and transportation sector. Published exclusively on x Newswires at 4:20 a.m. ET, 12:20 p.m. ET and 4:50 p.m. ET.
05:22 GMT – Cathay Pacific Airways“Q4 results could improve sequentially amid peak travel and freight season and falling jet fuel prices, HSBC Global Research analysts say in a note. HSBC raises 2023 profit before preferred dividends by 9%, driven by higher freight yields and lower fuel prices. Average air freight rates from Hong Kong to the US and Europe in the fourth quarter have so far recovered by 14-18% from the quarter, it notes. Even though passenger capacity is ahead of the airline’s target, more direct flights between China and the United States could pose a hindrance to Cathay Pacific’s long-haul traffic, which has benefited from Mainland travelers use Hong Kong as a gateway to the United States. HSBC reiterates its Buy rating and target of HK$9.60 on the stock, which recently traded at HK$8.05. (firstname.lastname@example.org)
©2023 x x. 87990cbe856818d5eddac44c7b1cdeb8