《大行報告》花旗上調攜程(TCOM.US)目標價至40美元 評級「買入」
花旗發表研究報告指出,攜程(09961.HK)(TCOM.US)於10月及11月一如管理層預期表現平平,惟自內地推出「新十條」放寬防疫措施後,公司增長動力改善,歐美市場的國際業務增長穩定,亞太區業務亦加速復甦。該行認爲,春節需求將略爲好過預期,主要由於不預期再有「就地過節」政策,而基於長假期間被壓抑的需求將得到釋放,境內出行或將於明年第二季起顯着恢復。
該行對攜程2022至2024財年各年盈測分別上調36%、7%及15%,以反映內地早過預期放寬防疫措施,以及成本控制適當,對其美股目標價由32美元上調至40美元,維持「買入」評級,認爲邊境重開及釋放被壓抑的需求將是該股未來的關鍵催化劑,另預期2024財年非通用會計準則下的經營利潤率將達22%。
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