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《大行》瑞銀升同程旅行(00780.HK)目標價至25.5元 料次季核心OTA收入按年增12.6%
阿思達克 07-17 10:37
瑞銀發表研究報告指,預計同程旅行(00780.HK)第二季的核心OTA收入將按年增長12.6%,符合市場預期及公司介乎10%至15%的指引。住宿方面,雖然次季國內酒店的平均每日房價(ADR)仍然疲弱,但相信向優質酒店轉移的有利組合將推動同程的國內ADR按年增長,加上住宿日數增加及出租率按年改善,將支撐公司第二季住宿收入實現中雙位數增長。然而,由於6月份國內航空客運量放緩,第二季交通業務增長或會減慢,而考慮到商務旅遊持續疲弱及國內機票價格回升,這一趨勢可能會在夏季持續。 該行表示,受惠於同程旅行在成本控制及營運效率改善的努力,預計第二季經調整淨利潤維持在7.43億元人民幣,全年預計達34億元人民幣。瑞銀將同程旅行的目標價由24.5港元上調至25.5港元,維持「買入」評級。
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