Auto & Transport Roundup: Market Talk

The newest Market Talks protecting the Auto and Transport sector. Published solely on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0522 GMT – Cathay Pacific Airways’ 4Q outcomes could enhance sequentially amid the height season for journey and cargo and softening jet-fuel costs, HSBC Global Research analysts say in a observe. HSBC raises its 2023 revenue earlier than most well-liked dividends forecast by 9% on increased cargo yields and decrease gasoline costs. Average air freight charges from Hong Kong to the U.S. and Europe in 4Q to date have recovered 14%-18% on quarter, it notes. While passenger capability is monitoring forward of the airline’s goal, extra direct flights between China and the U.S. may very well be a headwind for Cathay Pacific’s long-haul visitors, because it benefited from mainland vacationers utilizing Hong Kong as a gateway to the U.S. HSBC reiterates its purchase score and HK$9.60 goal on the inventory, which lately traded at HK$8.05. (monica.gupta@wsj.com)