Cathay Pacific initiated with a Buy at Citi

Citi analyst Kaseedit Choonawat initiated coverage of Cathay Pacific (CPCAY) with a Buy rating and HK$10.55 price target. China’s international traveling demand should follow global peers that have already opened up, said Choonawat, who sees Cathay being better positioned than Singapore Airlines (SINGY) given that Cathay and cross-shareholder Air China are the main connectors to the mainland.