You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》匯豐研究下調攜程美股目標價至40美元 摺合爲312港元
匯豐研究發表報告,維持攜程(TCOM.US)「買入」評級,美股目標價由46美元下調至40美元,按匯率7.8和換股比率1:1計算,攜程(09961.HK)H股目標價摺合爲312港元。

報告稱,在第三季暑假需求增加下,展望下半年,本地業務料持續改善;海外業務方面,歐洲多國自5月至6月重啓邊境,歐美放寬跨境出行限制,攜程料擴大投資於Skyscanner的市場推廣及員工團隊以捕捉增長。在疫情前Skyscanner貢獻攜程總收入約8%至9%,逾半旅客來自歐洲。

不過,報告稱攜程仍面對不確定性,出境業務可見度仍很低,疫情前出境業務佔總收入約25%,料香港及澳門放寬旅遊限制是下一個催化劑,但內地政府對重啓關口態度十分審慎;疫情在內地間歇性反彈或損害境內出行。即使廣東大致回覆正常,但雲南瑞麗7月初錄得確診個案增長,部分涉及高傳染性Delta變種病毒株。

匯豐研究表示,廣州及深圳確診反彈拖累次季業務增長,惟隨後復甦如期展現,報告料攜程次季總收入較2019年次季跌36%。考慮本地確診反彈及下半年本地業務復甦料呈漸進,下調攜程今年收入預測8%。考慮出境業務可見度仍很低,明後兩年收入預測各下調20%及10%。

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.
uSMART
Wealth Growth Made Easy
Open Account