富瑞:上調國泰航空(0293.HK)目標價至12.1港元 評級“買入”
富瑞發佈報告稱,上調國泰航空(0293.HK)目標價,由11.6港元升至12.1港元,予“買入”評級。
富瑞稱,管理層表示會進一步在4月份削減載客運力,這將會令受益率壓力減小及虧損減少,並預期今年下半年將復甦,而且市價已接近賬面值低位。
國泰航空與國泰港龍航空於2020年1月份合併結算的客、貨運量,均較2019年同期均有所下跌。兩航空公司在1月份合計共載客301萬人次,較2019年同月下跌3.8%,乘客運載率下跌1.3個百分點至84.7%,以可用座位千米數計算的運力則下跌0.3%。兩航空公司上月運載的貨物及郵件合共15.1964萬公噸,較2019年同期減少8.9%,運載率下跌1.4個百分點至60.2%。以可用貨物及郵件噸千米數計算的運力下跌3.2%,而貨物及郵件收入噸千米數的跌幅為5.4%。

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