中金:中資航空股今年下半年有望復甦
中金髮表研究報吿指,隨着疫苗有效性得到驗證,中資航空股的國際線業務今年下半年有望復甦,未來兩年航空需求復甦確定性高,板塊迎來買點,上調中國國航(0753.HK)A股目標價17%至10.4元人民幣,上調H股目標價20%至8.4港元,上調東方航空(0670.HK)目標價23%至4.3港元,維持A股目標價5.8元人民幣不變,維持南方航空(1055.HK)A及H股目標價分別為9.1元人民幣和6.5港元不變。
中金表示,受疫情影響,國際線出行需求已積壓至少1年,若民航局五個一政策放開,或出現爆發式增長,國際線收益和票價或超出該行預期,進而推動航空公司業績超預期,亦指高收入國家預計將在今年夏季完成接種,預計國際線明年恢復至2019年水平的九成。
中金預測今年三大航空股仍錄虧損,而2022年盈利將超過2019年水平,國有航空股首選國航,民營航空推薦,華夏航空、春秋航空、吉祥航空。
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