JPMorgan Chase raises earnings forecasts for EVA Air in '12, '13
November 1, 2012, 11:35 am TWN
TAIPEI -- JPMorgan Chase & Co. has raised its earnings forecast for EVA Airways Corp., Taiwan's second-largest airline, as Taiwanese travelers to the United States prepare to take advantage of visa-waiver privileges.
In a recent report, the U.S. bank raised its forecast for EVA Air's earnings per share in 2012 by 216 percent to NT$0.43, and in 2013 by 60 percent to NT$0.45, citing better-than-expected results in the third quarter.
EVA Air reported net profit of NT$1.56 billion for the third quarter of 2012, up 681 percent from the second quarter and up 24 percent from the same period a year earlier.
The company's third-quarter net margin was 5.4 percent, up from 4.6 percent a year earlier.