《大行報告》瑞銀上調國泰(00293.HK)目標價至9元 評級「中性」
瑞銀發表報告表示,市場對於國泰航空(00293.HK)人力資源的情況感擔憂,或會限制其股價表現,尤其其勞動力似乎落後於同業;基於近日招聘進程,該行相信國泰明年將會有足夠人力,應對明年營運情況,即回升至疫前70%水平,但國泰工會潛在的行動或會阻礙上升速度。
該行認為,在亞洲區域航空公司當中,料國泰將會有更好的表現,受惠其擁有來往香港及內地的最多的可售座位公里(ASK),並由於航空交通持續改善,預料國泰2023年至2024年乘客收入將回升至2019年疫前88%至113%的水平,惟較低載客量將會是另一因素抵銷。另外,該行預料,因宏觀經濟放緩、巷口堵塞舒緩,令貨運收入下跌,從而令總收入受到限制。
瑞銀表示,將國泰2023年至2024年盈利預測上調,並預料總收入將會回升至2019年疫前的84%至105%水平,並將對國泰目標價由7.84元上調至9元,維持「中性」評級。(ca/w)
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