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花旗:降中旅(0308.HK)目标价至1.9港元 维持“买入”评级
格隆汇 09-09 11:23
花旗发表研究报告,指面对近期香港宏观环境,中旅(0308.HK) 管理层重申公司战略重点是旅游目的地综合开发营运,并主要投资于中国以令增长及回报复原。
该行认为公司中期派息比率达39%,意味公司恢复慷慨的派息政策。该行将公司2019-2021年纯利预测下调4-9%,以反映香港酒店及交通业务在部分活动影响下的下行风险,目标价由2.5港元下调至1.9港元。不过,该行认为中旅估值吸引,2019年预测市账率仅0.4倍,股息回报率达4%,因此维持该股“ 买入 ”评级。
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