《大行報告》富瑞升攜程(09961.HK)目標價至479元 強勁執行力提升市場份額
富瑞發表報告指出,攜程(09961.HK)去年第四季收入按年升1.05倍至103億元人民幣,較市場及該行預期高出1.2%及2.2%。以非公認會計準則(non-GAAP)計,公司經營溢利26億元人民幣,高過該行預期的18億元人民幣,淨利潤達27億元人民幣,高過市場及該行預期的16億與13億元人民幣。
該行提及,攜程的管理層強調公司在國內及出境旅遊市場份額增長的故事,以及Trip.com未來幾年的潛力。該行將公司今年首季總收入預測,由原預期的按年增長17%,上調至增長26%,達116億元人民幣。非公認會計準則經營溢利由原預期的21億元人民幣,上調至約31億元人民幣。
分部而言,該行預期公司首季住宿收入按年增長27%至44億元人民幣(原預期43億元人民幣),交通票務收入增長20%至50億元人民幣(原預期43億元人民幣),跟團旅遊收入料升121%至8.5億元人民幣(原預期7.3億元人民幣),商旅收入料升13%至5.01億元人民幣,其他收入料升15%至約8.52億元人民幣。
此外,該行料攜程強勁執行力提升市場份額,維持對其「買入」評級,目標價由453元上調至479元,預期公司今年總收入按年增長17%,原預期升15%;非公認會計準則經營利潤率將達至約27.5%,原預期25%。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.