《大行報告》中金首予攜程-S(09961.HK)「跑贏行業」評級 目標價237.8元
中金發表研究報告,首次給予攜程-S(09961.HK)H股「跑贏行業」評級,目標價237.8元,指出攜程是領先的一站式旅遊平台,於全球市場提供旅遊產品、服務及差異化旅遊內容,擁有穩固的中高端客戶群及供應鏈支持,亦與航空公司及酒店保持強大合作夥伴關係。
展望未來,中金預計攜程將在競爭環境改善的情況下跑贏線上旅遊行業表現,看好其海外擴張計劃,憧憬旅遊行業復甦將推動公司中短期盈利反彈。考慮到現時國內業務已出現復甦,國際業務亦已恢復到2019年第二季度的70%至80%,中金估計攜程利潤率將在中短期內超越2019年同期水平。
中金又指,行業競爭短期內對公司核心業務影響可能有限,預測今明兩年攜程每股盈利將達到1.81元及7.46元人民幣,即2021至2023年複合年增長率達89%。
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