《大行報告》美銀證券上調香格里拉(亞洲)(00069.HK)目標價至9.2元 評級「買入」
美銀證券發表的研究報告指,香格里拉(亞洲)(00069.HK)去年列帳EBITDA按年跌79%至1.82億美元,差過該行預期,主要因為酒店板塊虧損較高,而來自物業銷售/租賃表現則大致符預期,去年整體收入跌58%至10.33億美元,而酒店平均可供出租房間收入按年跌64%至40美元。
該行指出內地3月份入住率已復甦至接近六成,而商務旅遊在兩會後亦顯著改善,管理層估計受惠清明及五一黃金周假期帶動,4月及5月需求將有所提升。去年公司經營現金流為負2.86億美元,單計下半年經營現金流則較上半年改善1億美元,管理層估計假如旅遊限制未有進一步放寬,今年經營現金流將為負8,000萬美元。
該行將公司2021年EBITDA預測降13%至5.63億美元,以反映疫情下各地延遲重開,目標價升15%,由8元上調至9.2元,重申「買入」評級,認為逐步重啟及跨境活動正常化或會帶來重估。
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.