大和:升首都机场(0694.HK)评级至“持有” 目标价下调至6.4港元
大和发表研究报告,指首都机场(00694.HK)上半年零售收入增长强劲,因去年同期基数低,主要由于去年上半年新的合约开始,以及有1个月的免租期所致,预期下半年会正常化。该行续称,随着2020年起交通分流增加,集团零售收入增长可能会逐渐减少。

该行指,北京大兴新机场开业带来风险,虽然目前官方未确定最终升降计划,但预期国际线的风险会较高。根据管理层目前估算,下半年将有180万人次分流至新机场,而2021年更高达2,000万人次。
该行调升2019-20年每股盈利预期6%至16%,以反映零售收入胜预期,惟降2021年每股盈利6%,反映新机场带来的分流影响,并上调2019-21年资本开支预期,目标价由6.5港元降至6.4港元,因目前估值低企,评级由“跑输大市”升至“持有”。
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