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大和:下調國泰(0293.HK)目標價至12.6港元 評級“買入”
格隆匯 10-23 11:17

大和發表報告表示,國泰(00293.HK)對下半年盈利表現較該行預期更為審慎,同時看到國泰第三季的疲弱表現,相信第四季改善的機會不大。

該行下調國泰2019至2021年盈利預測4%至46%,以反映對其運力增長預測由0-4.2%降至0-2.5%,且乘客收益率預測亦降為跌3.5%至0%(之前預測為升2%至跌2%)。同時估計國泰今年下半年將錄得淨虧損5.3億元,即是自2008年下半年以來,第二次錄得下半年虧損。

大和將國泰目標價由13.5港元降至12.6港元,基於預測市帳率0.8倍,但維持“買入”評級,認為香港政府潛在的旅遊刺激措施可能會為股價帶來支持。

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