Cathay rises 1.64% Morgan Stanley rating 10.7 Hong Kong dollar

Source: Internet
Author: User
Keywords Hong Kong Dollar Cathay
Tags added airlines business environment index market not yet operating
Cathay Airlines (00293-HK) rose 1.64% in the morning to HK $11.14, a deal of HK $18.0649 million, which was largely synchronized with the market, and the index rose 1.59%. Morgan Stanley maintained its neutral rating, but raised its target price from HK $7.90 to HK $10.70, after a sharp rally in the Hong Kong stock market since March.  Morgan Stanley says there are signs that the worst of the global macroeconomic and aviation business cycle is over. But the bank believes Cathay has not yet come out of the trough, the next 6-12 months will face a grim operating environment. Added that Cathay is unlikely to reduce the value of its assets, unless there is a major operating loss, the book value will remain unchanged.
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