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大行評級|大和:下調攜程目標價至590港元 下調下半年國內旅遊收入預測
格隆匯 07-29 13:42
大和發表報吿指出,雖然國內旅遊需求疲弱,但出境及國外旅遊需求仍然強勁,而攜程的毛利仍有很大的提升空間。該行對下半年國內旅遊收入預測下調,以反映最新的酒店行業平均每間可供出租客房收入(RevPAR)疲弱的表現。然而,由於攜程受惠於出境遊,表現應跑贏同業。惟公司依賴中高端細分市場,亦有機會造成影響。該行維持對攜程的長期看法不變,預期公司2024至2026年的收入年均複合增長率為16%,相對於同業,攜程的能見度更高。另對其每股盈利預測下調4%至8%,以反映國內需求遜預期。該行重申對其“買入”評級,為行業的首選股,目標價由653港元降至590港元。
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