Cathay Pacific Is Still Analysts' Least Favorite Airline
(Bloomberg) -- Cathay Pacific Airways Ltd. saw some rare analyst love this week, but it wasn’t enough to shift it from its unenviable position as the world’s least favored airline stock.
The Hong Kong-based carrier’s biggest half-yearly loss in at least two decades saw some analysts boost their ratings on the shares this week -- on expectations things can only get better for the beleaguered Cathay.
But despite improved recommendations from the likes of Goldman Sachs Group Inc. and Daiwa Securities Group Inc., the shares still have the lowest ranking from analysts on the Bloomberg World Airlines Index -- a score that’s calculated based on the number of buy, neutral and sell ratings for a stock.
With the consensus target price projecting a 5.1 percent stock decline over the next 12 months, the relief rally may prove short-lived.