Daiwa: Cuts profit forecast for Cathay Pacific (00293), lowers target price to 10.8 Hong Kong dollars, maintains "market perform" rating.

According to the Intelligence Finance and Economics app, Morgan Stanley released a research report stating that based on Cathay Pacific Airways (00293) performance in the first half of this year, the net profit forecast for 2025 to 2027 has been reduced by 7%, 5%, and 7% respectively. This mainly reflects the downward revision of passenger revenue forecasts, partially offset by improvements in cost control; at the same time, the capital expenditure forecast has been raised, and the target price has been lowered from HK$12.1 to HK$10.8. In light of the uncertain operating outlook, the bank maintains Cathay Pacific Airways' "synchronize with the market" rating, with a 7% dividend yield possibly limiting downside risk.