You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》匯豐研究下調內地三大航空股目標價 維持「買入」評級
匯豐環球研究指,內地三大航空公司H股股價今年累跌7%至16%,A股亦累跌12%至19%,跑輸恆生國企指數的1%升幅,該行認為是受到內地4月及5月經濟復甦數據令市場失望拖累,扭轉首季強勁復甦走勢。 該行指,內地本地航空客量已超逾新冠疫前,但國際航班復甦仍然慢熱,受航權樽頸、簽證政策及外國機場地面接待能力有限影響。該行仍對國際航線積累需求有信心,並預計出境需求將在夏季高峰期時加速上升,因部分本地航線資源轉向國際航線,預期將令航空公司本土航線機位利潤增加。該行料內地三大航空公司國際航線機位今年回復疫前水平43%,明年回復到82%,至2025年才全面恢復。 該行下調對三間航空公司今年除息稅前溢利(EBIT)預測12%至15%,反映每機位收入預期下調,盈利預測下調41%至60%,以反映匯兌收益少於預期。受惠於旅客增加及燃料費下降,該行料三大航空公司現季度虧轉盈共賺51億元人民幣。料全年三大航空公司錄70億元人民幣盈利。 該行下調對三大航空公司H股目標價,但同時維持「買入」投資評級。 下表列出匯豐環球研究對在港上市內地航空股最新投資評級及目標價: 股份│投資評級│目標價(港元) 國航(00753.HK)│買入│9元→8元 東航(00670.HK)│買入│4.2元→3.7元 南航(01055.HK)│買入│6.7元→5.5元 北京首都機場(00694.HK)│減持│4.7元→4.3元
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.
uSMART
Wealth Growth Made Easy
Open Account