《大行報告》匯豐研究上調華住集團-S(01179.HK)目標價至48.67元 評級「買入」
匯豐研究發表報告指,去年第四季華住集團-S(01179.HK)Legacy-Huazhu酒店收入大致上按年持平,勝於早前指引跌1%至5%,而Legacy-Huazhu酒店營運利潤大致上符合預期,達到收支平衡,主因額外減值。而德國酒店集團Deutsche Hospitality去年第四季收入與平均客房收益相匹配,回覆至高於2019年水平,惟其利潤略遜預期。
該行指,公司指引今年Legacy-Huazhu酒店收入增長46%至50%,遠高於該行早前估計的26%,惟指引新開1,400間酒店及關閉600間至650間,低於該行預期的淨增1,100間新店。
匯豐研究將今年Legacy-Huazhu酒店收入增長預測上調至49%,反映今年平均客房收益或達至2019年的111%水平,而對其營運利潤率預測大致上維持不變,同時將德國酒店集團Deutsche Hospitality收入增長預測上調至32%。
該行將其H股目標價由44.62元上調至48.67元,維持其評級爲「買入」。
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