富瑞:重申國泰航空(0293.HK)買入評級 目標價降至8.4港元
富瑞發表研究報吿指,儘管今年仍將是國泰航空(0293.HK)虧蝕的一年,但其股價受到產能和收益推動。隨着收入逐漸改善,該行對於集團最新的前景亦更為樂觀。不過,富瑞下調國泰目標價2.33%,由原來的8.6港元下調至8.4港元,重申買入評級。
富瑞表示,國泰5月份的客運量按年增長38%,按月升7%,但仍較2019年疫情前的水平低97%,而載客率仍僅26.7%,卻是今年最高。不過,6月份的乘客運力將繼續增加,集團亦留意到中國、美國、英國的需求強勁,計劃復飛部分航班。
該行認為,香港和新加坡的旅遊氣泡或成為7月份的下一個催化劑。雖然預期相關的經濟影響有限,但相信將成為與其他國家促成旅遊氣泡的範例。香港此前亦曾留意與11個國家,包括澳洲、日本、韓國等的潛在旅遊氣泡計劃。
該行又指,隨着集團計劃恢復產能,客運需求在初期或會滯後較高的初期航班成本。隨着需求超過運力,導致機票價格上升,下一步將是提高載客率。該行又調高了集團今年全年的虧損預測,以反映較慢的復甦。

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.