Cathay Pacific (CPCAY) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Cathay Pacific (OTCMKTS:CPCAY) from a buy rating to a hold rating in a report issued on Tuesday morning.

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. “

A number of other research analysts also recently issued reports on CPCAY. Deutsche Bank raised Cathay Pacific from a sell rating to a buy rating in a report on Wednesday, March 28th. ValuEngine raised Cathay Pacific from a sell rating to a hold rating in a report on Thursday, February 8th.

Shares of Cathay Pacific opened at $8.49 on Tuesday, MarketBeat reports. Cathay Pacific has a 1 year low of $6.69 and a 1 year high of $9.54.

Cathay Pacific Company Profile

Cathay Pacific Airways Limited, together with its subsidiaries, operates as an airline that provides scheduled passenger and cargo services worldwide. It operates in two segments, Airline Business and Non-Airline Business. The company conducts airline operations principally to and from Hong Kong. It also offers airline catering, ground handling, aircraft ramp handling, aircraft engineering, property investment, financial, computer network for interchange of air cargo related information, information processing, laundry and dry cleaning, and food processing and catering services, as well as provides travel reward programs.

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