《大行報告》里昂微升中銀航空租賃(02588.HK)目標價至69元 派息有驚喜
里昂發表研究報告指,中銀航空租賃(02588.HK)的2023年營業額表現優於市場預期。由於公司的租賃費用提高,不過被融資成本上升所抵銷,去年淨租賃回報率微升0.1個百分點至7.1%。
該行亦認為,公司宣布派發的股息仍是市場主要驚喜。中銀航空租賃2023年的每股總派息為0.39美元,比市場預期高出25%,相當於2023年稅後淨營業利潤的35%,將會是公司史上派發最高的股息。里昂亦預計當公司剩餘的俄羅斯保險索償問題得到解決時,公司股息將有更多潛在的上漲空間。里昂將中銀航空租賃的目標價由68元上調至69元,並維持「買入」評級。
另外,里昂亦認為美國聯儲局降息或公司代工服務(OEM)交付加速等積極因素,均有望成為中銀航空租賃股價的催化劑。(js/cy)
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