瑞信:新冠疫情影響持續 下調國航AH股目標價
瑞信發表研究報吿指,近日由南京機場爆發的新冠疫情蔓延至數個不同省份,並再次使旅遊限制收緊及不鼓勵在高峯期進行跨省旅行,機場需關閉以進行消毒,使空運受阻,下調中國國航H股目標價24.7%,由7.7港元降至5.8港元,重申“優於大市”評級,而A股目標價亦調低26.3%至7元人民幣,評級由“優於大市”降至“中性”。
瑞信表示,對疫情爆發規模的可預測程度下降,而隨着爆發規模擴大,相關影響將較之前維持較長時間,加上中國下半年將會更聚焦於輸入性個案,這些因素都為短期市場復甦帶來風險,但瑞信對中期國內復甦情況仍持正面看法。考慮到上述因素以及該行近日調低了布蘭特原油預測,因此瑞信決定下調國航2021年至2022年的盈利預測31%至58%,並相應高低其AH股的目標價。
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