《大行報告》海通國際升同程旅行(00780.HK)評級至「優於大市」 目標價上調至20元
海通國際發表報告指出,同程旅行(00780.HK)去年第四季收入按年增長1.1倍至31億元人民幣,超出該行預期11%,恢復至2019年水平的161%;經調整淨利潤4.82億元人民幣,較預期高出2%,相當於2019年水平的146%;經調整淨利潤率為15%,按季增長3個百分點,按年升13個百分點。年付費用戶(APU)達2.35億再創新高,按年增長25%,較2019年增長54%。交易額(GMV)按年增長1.11倍。
此外,該行相信今年內地旅遊需求強勁下,將利好國內旅遊表現,良好的春節旅遊數據足以印證。該行認為同程旅行持續向低線城市滲透、擴大服務覆蓋範圍,以及堅持精細化經營,有助公司持續跑贏同業。此外,公司亦加速投資海外,該行料其今年首季核心在線旅遊收入按年增長24%至32億元人民幣,今年料增長按年28%至152億元人民幣。該行對其評級「優於大市」,目標價由16元上調至20元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.