Everbright Securities: Initiates coverage on Cathay Pacific Airways (00293.HK) with a Buy rating, target price HK$17.74

Zhitong Finance APP has learned that Everbright Securities has issued a research report stating that the bank estimates Cathay Pacific Airways (00293.HK)'s operating revenue for 2026-2028 to be HK$144.2 billion/HK$150.9 billion/HK$160.0 billion, respectively, and net profit attributable to shareholders to be HK$12.5 billion/HK$11.7 billion/HK$12.8 billion, respectively, corresponding to EPS of HK$2.06/HK$1.93/HK$2.10, respectively. On a relative valuation basis, the firm assigns the company a target PE of 8.60 times for 2026, corresponding to a target price of HK$17.74; the FCFF model yields a fair value per share of HK$16.70, and the target price implies approximately 24% upside. This is the first coverage, with a "Buy" rating assigned.