大摩:三大中资航空股的目标价和盈利预测
摩根士丹利发表研究报告指,鉴于内地复苏比预期快、人民币升值等因素而上调国航(0753.HK)、东方航空(0670.HK)和南方航空(1055.HK)三大中资航空股的目标价和盈利预测,但仍对供给过剩导致的价格竞争和出境游持谨慎态度。大摩将三大中资航企的H股目标价上调15%-19%,而A股目标价亦调高12%-28%。
报告将今年美元兑人民币的假设由7.1调整至6.8,2021和2022年的假设分别由7.0调整到6.6。
报告指,对于国航、东航和南航来说,人民币每升值1%,将增加其净利润3.18亿-5.27亿人民币。
大摩将国航今年每股纯利预测上调27%,东航上调23%,南航上调25%,国航明年每股纯利预测上调86%,东航上调37%,南航上调48%。
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