《大行報告》大摩相信同程旅行(00780.HK)股價60日內將跑贏大市
大摩發表技術研究報告,相信同程旅行(00780.HK)股價於未來60日內將跑贏大市,發生此概率料介乎70%至80%,主要是該股近期被拋售,短期估值更趨吸引。予其目標價20元,評級「增持」。
同程股價已逼近本年至今低位,年內累跌約23%,同期恆指跌12%,惟下半年收入及純利與2019年疫情前同期相比,正邁向各增長逾50%及約40%。公司預期11月21日公佈第三季業績,大摩預料,公司對增長展望、以及明年市佔擴張均保持正面論調,並認爲其迎來多個正面因素,包括跟團旅遊業務的整合、酒店管理、與華爲合作等。
該行料集團有資本回報的潛力,受惠其次季底止61億元人民幣的淨現金,以及估算其全年30億元人民幣的自由現金流。
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