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《大行報告》大摩指中航信(00696.HK)股價疲弱與穩固基本面背馳 呈強勁買入信號
阿思達克 05-24 12:21
摩根士丹利發表研究報告,指中國民航信息網絡(00696.HK)近期股價表現與穩固基本面有明顯落差,按過去經驗是強勁買入信號,投資內地境內航空業復甦的故事,予「增持」評級,目標價21元。

報告稱,在五一假期小高峰後,內地境內航空需求維持穩固,客量較2019年同期水平高約10%。該行追蹤海南島航空旅客量確認上述趨勢。美蘭及三亞機場客量較2019年同期水平高出分別10%及25%。

大摩表示,自3月中旬起,留意到公司相對股價表現(累跌約20%,同期恆指跌約2%)與境內航空客量背馳,認為該情況不會持續,未來一至兩個月將重新貼近歷史走勢,源於中航信盈利最終取決於航空客量。另該行稱,現時公司估值相當於預測市盈率17倍,較五年歷史均值20倍低出一個標準差,屬吸引。該行料近期股價回落忽略了中航信盈利復甦周期。

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