Cathay Pacific Is Winning Back Analysts
Cathay Pacific Airways Ltd.’s better than expected full-year results for 2017 have won some analysts over. UBS Group AG and JPMorgan Chase & Co. were among brokerages that raised their recommendations on the stock which jumped as much as 7.6 percent Thursday, the biggest intraday gain in nine months. The Hong Kong-based airline now has its most ‘buy’ ratings since mid-2016, according to data compiled by Bloomberg. Cathay is “becoming brighter through the dark clouds,” Andrew Lee, an analyst at Jefferies Hong Kong Ltd., wrote in a note Thursday.