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《大行報告》大和首予美蘭機場(00357.HK)「買入」評級 目標價45元
阿思達克 05-31 10:45
大和發表研究報告,首予美蘭機場(00357.HK)「買入」評級,以現金流折計率計,目標價45元,認為屬內地境內旅遊強勁及海南免稅市場擴張的前緣受惠者。該行指公司短期及長期料迎來多個催化劑。海口美蘭機場二期啟用後,以總樓面面積計,美蘭機場將是內地最大機場免稅店。即使在最新離岸免稅政策引進前,美蘭機場對免稅店租金的依賴有限,但料免稅店租金收入將成為公司重要收入引擎。

報告稱,海口美蘭機場二期接近竣工,將在2021至2022年啟用,未來客運容量將倍升,成為海南省最大機場。在國際敞口及貨運吞吐量而言,該行認為海南省自貿區將為美蘭機場展開新一頁。報告形容公司現估值吸引,今年將是豐收的一年,屬疫情後第一年度可以完全受惠於最新國策。

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