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《大行報告》匯豐研究下調國泰(00293.HK)目標價至9.5元 評級「買入」
阿思達克 10-18 10:41
匯豐研究發表報告指,國泰航空(00293.HK)9月份客運量有所改善;雖然貨運量仍然很高,但今年傳統貨運旺季需求可能未及去年強勁。該行重申對國泰的「買入」評級,且是其國際旅遊復甦主題的首選。 匯豐研究指,據報國泰可能要到2024年底或2025年初才能恢復到疫情前的運力水平。運力提升速度較慢的原因是在重新啟用停放的飛機以及招聘和培訓包括飛行員在內的機組人員方面存在挑戰。該行調整對國泰預測,以反映運力方面的挑戰,以及由於繼續實施「0+3」,乘客恢復速度較慢。 報告指,由於預期國泰乘客及貨運量下降,削減今年下半年及明年上半年的利潤預測,目前預測國泰今年全年扣除優先股股息前虧損為24億元,原本預測虧損為11億元;並將明年的利潤預測削減9%,因此將其目標價由11元下調至9.5元。
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