[ET Net News Agency, 2 December 2020] Huatai Research lifted its target price for
Beijing Capital International Airport (BCIA) (00694) to HK$8.5 from HK$7 and maintained
its "buy" rating.
The research house likes BCIA for its (1) throughput recovery, a result of COVID-19
pandemic relief and the Daxing airport diversion accelerated by COVID-19; (2) potential
COVID-19 vaccine R&D, which would rejuvenate international air travel demand; and (3)
under the new international retail management agreement, implementation of the incremental
sharing mechanism has been suspended and Huatai sees this leading to improved
profitability in duty-free and other non-aero businesses. (KL)