Analyst Who Cut Cathay to Sell Says He Faces Huge Pressure
- ICBC’s Zhao comments after controversial report on carrier
- Analyst stands by bearish call, says research was independent
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The analyst who issued a report warning investors to dump shares of embattled Cathay Pacific Airways Ltd. before they tumble to their lowest levels since 1998, is getting a lot of blowback after his controversial call.
“Never before in my 12 years of investment analyst career have I received this much pressure on a particular stock rating,” Zhao Dongchen, who last week issued his inaugural report on Cathay with a “strong sell,” said in an emailed response to Bloomberg queries. “Never before in my 36 years of life am I under such heavy pressure.”