《大行報告》瑞銀首予同程藝龍(00780.HK)「買入」評級 目標價17.5元
瑞銀發表研究報告,首予同程藝龍(00780.HK)「買入」評級,目標價17.5元。瑞銀相信在新冠疫情下,其於本地旅遊線上滲透率加速,並從線下同行中搶佔客源。
該行相信公司是主要的受惠者,因其針對本地旅遊需求,而且客源主要來自三、四線城市,故相信其表現會較其他同業為好。長遠而言,三、四線城市的擴充策略可帶動持續增長。公司對明年收入預期雖然低於其他券商,但相信已反映於現價。
現價相當於未來十二個月市盈率13.7倍,幾乎是環球同業最低,而且低於15.4倍的歷史平均值,意味風險回報吸引。
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