《大行報告》大和下調國泰(00293.HK)目標價至13.5元 評級「買入」
大和發表報告指,香港政府昨日(4日)宣布「撤回」修訂逃犯條例,相信是為解決政治紛爭踏出第一步,惟估計示威活動不會立即停止,但預期至少情況不會再惡化下去。
報告又指,國泰現價相當於一年市賬率僅0.6倍,處歷史低位,更接近金融海嘯時的0.58倍。以過往經驗及目前情況來看,預期未來幾個月市場情緒會好轉。
不過,該行下調國泰2019至2021年每股盈利預測39%至56%,以反映示威活動對下半年來港旅客數量的負面影響,且下調其今年乘客收益率至按年跌2%(原本預測為升3%),更預期國泰會推出更多優惠吸客。因此目標價相應由16元降至13.5元,但維持「買入」評級。
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