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富瑞维持国泰航空(0293.HK)“买入”评级予目标价15港元
格隆汇 08-12 14:41

富瑞发表研究报告表示,国泰航空(0293.HK)首先是面对客运收益率压力,其次是香港示威活动影响客运量。内地民航局现向国泰发出重大航空安全风险警示,将影响内地航线及部分欧美航线,该行估计下半年1%客运收益率及客运量变动,将对盈利分别影响3.09亿及2.57亿港元,仍维持“买入”评级及目标价15港元。

该行估计,国泰下半年客运收益率按年下跌4.3%,但客运量上升7.3%,估计可录得15.5亿港元盈利,若下半年客运收益率按年下跌8%,以及客运量持平,则将会录得13亿港元净亏损。

富瑞指,国泰现价市帐率为0.6倍,预期公司可保持盈利能力,不过短期内面对不明朗因素,或需等待较好的入市时机出现。

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