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大行評級丨大摩:將國泰航空目標價調低至10.8港元,貨運業仍面對不明朗因素
格隆匯 08-08 11:59
摩根士丹利調低國泰航空(0293.HK)目標價11%,由12.1港元調低至10.8港元,最牛目標價由18.3港元調低至16.8港元,最熊目標價由7.4港元調低至6.3港元,維持“與大市同步”評級。大摩在國泰中期業績會後,調低2025-2027年度盈利預測7%、5%及7%,因基於客運收益假設下降及調高資本開支等。大摩指出,國泰有望受香港需求復甦,但貨運業仍面對不明朗因素。如果日本和泰國航線需求恢復進度勝預期,將更加樂觀。中美貿易前景將影響貨運業務,加上燃油價格變動亦是關鍵。2025年度7釐股息率或有下跌風險。
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