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《大行報告》瑞信上調華住集團-S(01179.HK)目標價至415元 評級「中性」
阿思達克 04-23 09:40
瑞信發表的研究報告指,今年首季華住集團(01179.HK)可供出租客戶收入稍勝預期,達到2019年的77%水平,留意到在3月尾勢頭強勁並超越2019年水平,而4月初亦企穩在前年96%的水平。該行相信各項活動回歸正常將帶來支撐,同時亦對五一黃金周及暑假本地需求復甦維持正面。該行維持對公司「中性」評級,在首季業績公布後認為本地市場維持強勁,不過封關勢將影響海外營運,將2021及2022年盈測分別降5%及升6%,目標價由380元升至415元。

該行指出網絡擴張仍然是重要一環,隨著可供出租客戶收入復甦,相信酒店開張及登記應加快,假如即使滲透低線城市,相信在中至大型酒店方面的擴張及加盟酒店方面將帶動利潤長期復甦。該行指出,在DH酒店方面復甦的可見性仍然較低,認為封城有機會延至5月尾,而疫情狀況將繼續在短期帶來陰霾。

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