《大行報告》大摩:疫苗進展利好國際旅遊復甦 上調內地三大航空股及國泰評級至「增持」
大摩發表研究報告,指在新冠肺炎疫苗的發展下,有助國際航空旅遊業復甦,預期行業於明年第三季起逐步復甦,而強勁的壓抑需求會在明年第四季帶動中國航空公司恢復盈利。
該行指,未來3-6個月中國航空業的基本面維持疲弱,因國內遊隨時會因疫情發展而受影響;直至國際線復甦前,供應過剩情況會持續;廉航繼續搶佔市場份額。同時預期中國對比其他地區在開放邊境方面會更審慎。
該行又指,一旦中國旅遊限制解除,相信短期國外旅遊需求強勁,再加上本地需求持續復甦,有助推高客座率和收益率,料情況會在明年第四季出現,相信三大內地航空股明年可回復至收支平衡或盈利狀況,大摩上調內地三大航空股及國泰評級至「增持」,中港航空股目標價平均上調26%(另外表列)。
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