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《大行报告》高盛上调同程艺龙(00780.HK)目标价至21.2元 评级「买入」
阿思达克 02-24 09:52
高盛发表研究报告指,过去几个月内地疫情再度出现爆发,当局鼓励在农历年假期间「原地过年」,令铁路及国内航空需求低於先前预期。

根据交通部数据,农历新年旅客出游数字较2019及2020年相比大幅减少76.8%及34.8%,相反东部地区及热点城市本地消费及餐饮活动大增,宅渡假、短途本地旅行愈趋受欢迎。该行指,考虑现时趋势及地方政府的严格管控,下调了对同程艺龙(00780.HK)的预测,预期去年第四季收入将由按年下跌3%,扩大至跌8%,经调整净利预测达2.84亿元人民币,较早前估计的近3.5亿元人民币减少。

高盛并预期,今年首季同程艺龙收入增长为56%,此前估计为90%,估计新年过後首季住宿预订收入将达到2019年同期恢复107%,交通收入则恢复到2019年水平的约69%。

高盛指,对同程艺龙2022年收入预估基本保持不变,维持「买入」评级,基於SOTP估值法将目标价由18.8元提升至21.2元。

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