Citi: Upgrades rating of Cathay Pacific Airways (02611) to "Neutral" and includes in the "Positive Catalyst Watchlist"

Zhitong Finance APP learned that Motong released a research report stating that the rating of Guotai Haitong's H shares (02611) and A shares (601211.SH) has been upgraded from "reduce" to "neutral", as the bank believes that Guotai Haitong is a major beneficiary of the recent rise in the Science and Technology Innovation Board. Secondly, benefiting from the increase in daily average trading volume in May and the enhancement of margin financing and securities lending business, the industry fundamentals are improving. Thirdly, due to the recent underperformance (Guotai Haitong's A shares and H shares are 10 percentage points behind their industry peers since the beginning of the year), the current valuation seems reasonable, but still not particularly attractive enough to warrant a "buy" rating.