富瑞:削國泰(0293.HK)目標價至6.4港元 評級維持持有
富瑞發表研究報告指,國泰航空(0293.HK)早前發盈警,預期今年上半年將蝕99億港元,將是集團最大的半年度虧損。該行上調下半年的的虧損預測,以反映新型冠狀病毒肺炎疫情,導致客流量反彈受阻,加上欠缺短期的催化劑,將公司目標價由原來的8.3港元降至6.4港元,評級維持持有。
富瑞表示,集團的中期盈警實際上是好過該行預期。撇除24億港元的資產減值損失,集團虧損為75億元,較該行預期的92億元和市場估計的79億港元好。該行解釋,預期集團錄得92億元虧損,主要是基於集團今年首4個月,已虧損45億港元,以及自2月份以來,每月的現金消耗為25億至30億港元。
該行認為,目前香港第三輪的疫情爆發,很可能導致國泰的乘客量恢復有所延遲,而集團亦將其7月份的運力目標由最初的9.4%,下調至7%。

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