Global Mobility/Transport, Equity Long-Short

Mohshin Aziz

Capital market veteran with 22 years experience with stints as an analyst (sell-side & buyside), investor relations and fund manager. 

My key expertise in the aviation sector. My definition of "aviation" includes airlines, travel tours, airports, airport retail & services, OEMs, online travel agents, aircraft lessors, air cargo/logistics, etc.   

I have an active watchlist consisting 190 companies across 41 countries. The aviation sector is highly cyclical and I am constantly evaluating signals to uncover attractive trade opportunities.

Cathay Pacific (293 HK, BUY, TP:9.90HKD): Decent Results, Stay the Course

Cathay Pacific (293 HK, BUY, TP HK$9.90): Inputs from Analyst Briefing

Chinese Airports at Inflection Point, Low Risk and High Visibility Growth Sector

Chinese Airlines: Well Placed for a Reversal

Equity Bottom-Up

Cathay Pacific Airways / Equity Bottom-Up

<ul>
<li>FY23 net profit of HKD9.1b, easily beating the consensus forecast of HKD8.5b, and announced a surprise dividend, the first since 2019, signally pandemic effects are over </li>
<li>Perfect execution from the team, leveraging on a strong market </li>
<li>Cathay Pacific is a value <strong>BUY</strong>, our target price of HK$9.90 (+10% UPSIDE) implies 10x FY2024 PE. We will update more after tuning in the 2 pm analyst briefing </li>
</ul>


FY23 net profit of HKD9.1b, easily beating the consensus forecast of HKD8.5b, and announced a surprise dividend, the first since 2019, signally pandemic effects are over 
Perfect execution from the team, leveraging on a strong market 
Cathay Pacific is a value BUY, our target price of HK$9.90 (+10% UPSIDE) implies 10x FY2024 PE. We will update more after tuning in the 2 pm analyst briefing 


キャセイパシフィック航空（293 HK、買い、目標株価HK$9.90）：23年度は予想を上回る業績、そしてサプライズ配当