《大行報告》摩通上調同程旅行(00780.HK)目標價至16元 評級「中性」
摩根大通發表研究報告指,同程旅行(00780.HK)去年末季業績亮麗,管理層予今年首季指引亦優於原先市場疲弱預期,上調2022至2023年每股盈測約15%,但較市場在業績前預測仍低5%至10%。由於該行對內地互聯網板塊維持短期審慎看法,維持同程旅行「中性」評級,目標價由12元升至16元。
報告稱,由於內地堅持「動態清零」政策,預期短期走勢具挑戰性。不過該行認爲對長線投資者而言,倘能捱過波動期,同程旅行是投資境內旅遊業的良好媒介,因其低估值及執行力穩固。
摩通引述管理層稱,料今年全年呈「V」型復甦,即使難以預測發生時機及幅度。該行亦對管理層目標今年淨利潤率約17%感安慰,較該行及市場在績前預期的15%至16%爲高。
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