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《大行報告》富瑞看淡內地航空股 推薦國泰(00293.HK)
富瑞發表研究報告指,受中港通關及農曆新年假期推動,國泰航空(00293.HK)今年1月份經營數據向好,客運量突破100萬人次,是疫情以來最多。而根據行業數據顯示,本周中國往返國際航班座位料將增加19%,與年初比較已增加457%,未來兩星期則預期按周增加10%和14%。 報告指出,國泰表明計劃於未來幾個月航班數量會持續提升,重點將增加往返中國的直航航班及經香港轉機的航班。至於貨運方面,該行預期行業預計由於需求依然疲軟,航空貨運量及利潤空間都將繼續受壓。 該行看淡中國航空公司,當中比較推薦的國泰,維持「買入」評級及目標價10.4元,認為雖然中國航空股今年可受惠於匯率、油價及客運量回升等利好因素,但相信已反映在估值上,內地航空板塊市賬率亦接近頂峰,較為看淡國航(00753.HK)、東航(00670.HK)及南航(01055.HK)。(gc/s) ~
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