汇丰环球:升国泰(0293.HK)目标价至6.7港元 维持持有评级
汇丰环球研究发表报告,将国泰航空(0293.HK)目标价从6港元升至6.7港元, 维持持有评级。
报告指,公司指2020年下半年业绩将会较上半年弱,另外第一至三季,客运运力是2019年的25%,但国泰料第四季客运运力将会只有少于10%,另外公司亦指重组计划的35亿元成本将会在下半年入账,每月现金净流失将会减至10-15亿元。由于客运量下降和重组费用,将2020年亏损上调至210亿元,并将2021年亏损预测上调至67亿元,预计国泰在2022年才能实现盈利。
报告又指,国泰料2021年下半年载客率会高于50%,惟全年载客率仍会低于50%,考虑疲弱复苏前景,公司长期停放了83架飞机,占机队45%,并加速了旧飞机退役,同时将新飞机交付推迟到2022年以后 。国泰又表示,货运需求一直保持强劲,实际上在中美贸易通道已恢复到疫情前水平,料空运将从未来疫苗供应链中受益。

Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.