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《大行報告》星展下調國航(00753.HK)目標價至6.3元 國際客運量加速恢復
阿思達克 09-07 12:04
星展發表報告指,隨著中國放寬海外跟團旅遊限制後,長途航班有所恢復,當中中國國航(00753.HK)是主要受益者,因為國航是中國三大航空公司中,國際旅行業務敞口佔比最大。 隨著更多國際航班恢復,該行預計國航下半年國際客運量將顯著復甦,帶動國航全年淨虧損收窄,星展早前預測國航將於下半年錄得盈利。 不過星展認為,雖然最差的經營情況似乎已經過去,但國航的資產負債表仍然受創;截至6月底止淨負債率達到6.6倍,雖然較去年底的10.1倍有所減少,但仍遠高於疫情前水平。 星展維持對國航H股「持有」評級,目標價由6.6元下調至6.3元,認為現時估值與基本面相符。
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