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《大行報告》瑞信下調國泰(00293.HK)目標價至7元 評級「跑輸大市」
阿思達克 07-03 09:52
瑞信發表報告表示,國泰航空目標價由7.1元微降至7元,反映上調對國際油價預測及國際航線放慢,維持「跑輸大市」評級,但指現價僅相當預測市賬率0.6倍,料市場已反映大部份負面因素。

該行指,往返北京航班自6月中起受影響,但境內線趨勢持續穩定,6月份整體境內線航班載客量回復至70%,較5月提升5個百分點。因應更多國際航班復運,雖然仍然溫和但運力已由2%提升至5%,相信未來新冠肺炎疫情仍然是主要的風險,而行業復甦速度需留意旅遊限制何時解除。

該行指,油價因產量減少見復甦,但仍低於去年水平,該行估算今明兩年布蘭特期油價格分別為41美元及50美元,較此前估算有所提升,料每1%油價提升,會影響國泰盈利4%。

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