Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>HSBC Global Research Lowers TPs on 3 Major CN Airlines
Recommend 18 Positive 47 Negative 14 |
||||
|
||||
|
HSBC Global Research expected China's top three airline stocks to post profits in 1Q24, while resilient travel data from the Ching Ming and Labour Day holidays suggested a positive outlook for 2Q. Despite continued pressure from fuel prices, foreign exchange and yields, the broker expected the big three to swing into a profit in 2Q24. The broker cut its profit forecasts for the three major mainland airlines by 19% and 18% for 2024 and 2025, reflecting higher fuel costs and lower yields, as fares fall in line with capacity increases. HSBC lowered its target price on AIR CHINA (00753.HK) to $5.5 from $6, and trimmed its target price on CHINA EAST AIR (00670.HK) to $2.6 from $2.7, with both rated Buy. CHINA SOUTH AIR (01055.HK)'s target price is lowered to $2.7 from $3.1, with a Hold rating. In addition, the broker maintained its Buy rating on BEIJING AIRPORT (00694.HK), with a target price of $3. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
