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《大行报告》高盛下调携程-S(09961.HK)目标价至245元 评级「买入」
高盛发表研报指,近日与携程(09961.HK)(TCOM.US)管理层讨论了国内及海外旅行预订趋势、海外扩张策略、低线城市竞争、成本控制等方面,管理层对今年第四季业务增长持谨慎态度。 该行指出,内地长途及短途旅游行业数据均显示,自8月中旬以来逐渐放慢,酒店收入及航空公司客运量均有所下降;海外市场方面,旗下Skyscanner及Trip.com的欧美旅行预订继续超过2019年同期水平,加上亚洲市场逐步复苏,预期第三季GMV可恢复80%至90%。 考虑第四季旅游动力减弱,高盛预测公司收入将按年跌4%,加上人民币兑美元和港元贬值,相应将2022至2024财年盈利预测下调26%、3%及2%,目标价由254元降至245元,仍列为行业首选,维持「买入」评级。
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