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摩通:升首都機場(0694.HK)目標價至14.2港元 評級“增持”
格隆匯 12-18 10:58

摩通發表研究報告指,首都機場(00694.HK)近日公佈增加派息比率的方案、零售租金收入增加、免除本地航班的着陸附加費等因素,調整交通流量的預期,目標價由13.9港元上調至14.2港元,維持“增持”評級。

該行指,大興機場的啟用對首都機場的影響較預期中細,而首都機場國際客量及免税店業務都維持強勁,雖然短期受跑道維修,港台客運減少,以及國慶期間的航空減少所影響。

該行又指,租金增加有助抵銷免除着陸附加費的影響,同時派息比率由40%升至不少於45%亦有上調估值的空間。首十一個月客運量持平,國際乘客升1.6%,反映大興機場啟用後影響較細。另外,從2019/20年的冬季及春季航空時間表來看,首都機場仍然能夠維持北京主要機場的地位。

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