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《大行報告》野村:攜程(TCOM.US)成為國內遊強勁復甦主要受惠者 重申「買入」
野村發表報告指,內地進入中秋及國慶黃金周八日長假期,旅遊業積壓需求被釋放,旅客數量大升,據國家文旅局預測,國內遊旅客數量將較去年同期上升86%至8.96億人次,以可比基礎計較2019年同期升13%。 該行指,年初以來,內地國內遊強勁復甦,但旅遊消費的復甦較旅客人數為慢,主要因為疫情期間居民習慣不出遠遊,因此到就近地區旅遊的佔比較大,以及在宏觀經濟環境困難下,旅客消費審慎。 野村相信網上旅遊平台龍頭攜程-S(09961.HK)(TCOM.US),將會成為國內遊強勁復甦的主要受惠者,估計第三季收入較2019年同期增長33%,本地及國際收入分別增長47%及30%,出境遊回復至疫情前79%水平,並較第二季增長61%,不過國際航班運載量出現「樽頸」限制增長,根據公司管理層指,第二季國際航班運載量恢復至疫情前約38%,估計下半年恢復至疫情前60%至65%。野村重申予攜程美股「買入」評級,目標價48美元。
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