Citigroup: Cathay Pacific Airways (00293) Core profit in the first half of the year exceeds expectations, maintains a "buy" rating.

According to the Zhixin Financial APP, Citigroup released a research report stating that Cathay Pacific (00293) is expected to record a shareholder's share of comprehensive profit ranging from about 6 to 6.5 billion Hong Kong dollars for the six-month period ending June 30, 2026. After deducting non-cash income of about 1.4 billion Hong Kong dollars recorded due to the reduction of China Eastern Airlines (00753) equity, the core profit is estimated to be about 4.6 to 5.1 billion Hong Kong dollars, far higher than the market's expectation of about 3.3 billion Hong Kong dollars. According to the median profit guidance, the bank estimates that Cathay Pacific's core profit in the first half of the year will increase by about 33% year-on-year. Citigroup expects the market to have upward revision space for Cathay Pacific's full-year profit forecast for 2026, maintains a "buy" rating, with a target price of 16.2 Hong Kong dollars, and lists it as the preferred airline stock in the Asia-Pacific region.