Cathay is now up 3.05% to maintain increased holdings of HK $13

Cathay Airlines (00293-HK) is up 3.05%, reporting 10.82 Hong Kong dollars, a deal of HK $19.5068 million, which is now largely synchronized with the city, with a 3.04% rise in the index. JPMorgan maintained its overweight rating, with a target price of HK $13, equivalent to 1.3 times times its share price/corporate value. It was previously reported that the company's passenger capacity in June was down 18.1% from a year earlier.　　But the bank expects the airline industry to recover as business activity has started to rise, and there are signs that some companies are beginning to loosen their business travel policies. The airline stock is an early-cycle unit that JPMorgan sees as the time to buy Cathay, as its share price has historically been credited with a rebound in earnings for the next 12 months and is picking up at the bottom of the maximum patronage drop.