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《大行报告》瑞信下调国航(00753.HK)目标价至5.8元 评级「跑赢大市」
阿思达克 04-02 14:46
瑞信发表报告表示,三大中资航企全年业绩显示,去年下半年经营成本高於预期及收益率下降,当中东航(00670.HK)收益率在运力扩张及市场竞争下表现最差,国航(00753.HK)收益率跌幅相对较小,而南航(01055.HK)则面对成本压力最大。

报告补充,航运业短期前景持续不明朗,其中预计国内航线需求最快於5至6月开始重现,至8月才会复苏;而国际航线则可能需时更长。该行认为,在国际航线运力下降下,料国航第二季客运量按年跌50%,到第三季才逐步复苏。该行大幅削减其今年盈利预测57%,但升明年盈测12%,以反映成本结构及油价预测调整的因素。目标价由7.3元降至5.8元,维持「跑赢大市」评级。

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