Cathay Pacific Airways (OTCMKTS:CPCAY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The firm currently has a $4.75 target price on the transportation company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.18% from the stock’s previous close.
According to Zacks, “CATHAY PACIFIC AIRWAY’s principal activity is the operation of an international airline based and registered in Hong Kong. Other activities include airline catering, aircraft handling and engineering. The Group offers scheduled passenger and cargo services to 62 destinations around the world. It operates in Hong Kong, Mainland China, Japan, Korea, Taiwan, South East Asia, Middle East, Europe, Pacific and South Africa. “
Shares of OTCMKTS:CPCAY opened at $4.16 on Friday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -2.39 and a beta of 0.96. The company has a 50 day moving average of $4.10 and a 200-day moving average of $4.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.59 and a quick ratio of 0.59. Cathay Pacific Airways has a one year low of $3.25 and a one year high of $5.22.
Cathay Pacific Airways Limited, together with its subsidiaries, operates as a carrier of international passengers and air cargo. The company conducts airline operations principally to and from Hong Kong. It also provides property investment, travel reward program, travel tour operator, financial, aircraft leasing and acquisition facilitation, airline catering, information processing, aircraft ramp handling, laundry and dry cleaning, ground handling, aircraft engineering, cargo carriage, airport ground engineering support and equipment maintenance, and inventory technical management services.
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