Zacks Investment Research upgraded shares of Cathay Pacific (OTCMKTS:CPCAY) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $9.50 price target on the transportation company’s stock.
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. “
Other equities analysts have also recently issued reports about the stock. Deutsche Bank raised shares of Cathay Pacific from a sell rating to a buy rating in a research report on Wednesday, March 28th. ValuEngine raised shares of Cathay Pacific from a sell rating to a hold rating in a research report on Thursday, February 8th.
Shares of OTCMKTS CPCAY opened at $8.52 on Thursday. The firm has a market cap of $6,703.27, a PE ratio of -94.67 and a beta of 1.02. Cathay Pacific has a twelve month low of $6.69 and a twelve month high of $9.54.
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About Cathay Pacific
Cathay Pacific Airways Limited, together with its subsidiaries, operates as an airline that provides scheduled passenger and cargo services worldwide. It operates in two segments, Airline Business and Non-Airline Business. The company conducts airline operations principally to and from Hong Kong. It also offers airline catering, ground handling, aircraft ramp handling, aircraft engineering, property investment, financial, computer network for interchange of air cargo related information, information processing, laundry and dry cleaning, and food processing and catering services, as well as provides travel reward programs.
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