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<Research> DBS Upgrades AIR CHINA (00753.HK) to Hold, Maintains TP at HKD4.1
Recommend 3 Positive 6 Negative 4 |
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DBS said in a research report that as China’s aviation industry faces the impact of high oil prices, industry profit margins are under pressure. Therefore, it maintains a cautious stance on the three major Chinese airlines. The broker noted that AIR CHINA (00753.HK)’s fare increases are unlikely to keep pace with inflation in jet fuel costs, and it expects the company to continue recording losses this year. However, the stock price has cumulatively fallen by about 40% since the outbreak of the Iran conflict in late February. The broker believes this has already reflected short-term market pessimism, with risk-reward becoming more balanced. Considering valuations are becoming more reasonable but market expectations have dropped significantly, the broker upgraded AIR CHINA from Sell to Hold, while maintaining its H-share TP at HKD4.1. (sl/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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