On July 27, CATHAY PAC AIR rose 3.06% in regular trading, trading at HK$14.49/share, with turnover of HK$30.56 million.

On the news front, CLSA published a research report on July 26 upgrading CATHAY PAC AIR from Hold to Outperform, raising the target price from HK$13.5 to HK$16.4. The broker lifted its target price-to-book multiple from 1.41x to 1.61x, citing stronger-than-expected cargo business performance, resilient passenger yield, and improved contributions from associates. CLSA raised its net profit forecasts for the company by 54% and 37% for the current and next fiscal year respectively, factoring in updated yield assumptions and gains from the proposed disposal of Air China stakes.

The upgrade follows the company's H1 profit alert projecting attributable profit of approximately HK$6.0-6.5 billion, up significantly from HK$3.7 billion in the prior-year period. Separately, Citi earlier upgraded the stock from Sell to Buy with a HK$16.2 target, naming it a top Asia-Pacific airline pick. The broader airline sector rallied in tandem, with China South Air up 5.36%, Air China up 4.91%, and China East Air up 4.89%.

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