UBS: Cathay Pacific (00293.HK) repurchasing Qatar Airways shares expected to have a positive market response, target price of 12.2 Hong Kong dollars.

According to the Wise Finance APP, UBS released a research report stating that Cathay Pacific Airways (00293.HK) announced plans to repurchase all shares held by Qatar Airways, subject to approval by at least 75% independent shareholders, the Securities and Futures Commission, and exemption from mandatory general offer before it can be implemented. UBS gives Cathay Pacific a "buy" rating with a target price of 12.2 Hong Kong dollars.