[ET Net News Agency, 14 September 2018] Goldman Sachs lowered its target price for Air
China (00753) to HK$7.45 from HK$7.85, and maintained its "neutral" rating.
The research house remains cautious on the China Airlines sector given weak Rmb,
potentially slower demand, sustained high oil prices, and high consensus expectations.
Goldman raised its 2018-20 net income (pre-exceptional) estimates by 29%/31%/11%. For
2018, it lowered its fuel and ex-fuel unit costs while also reducing its yield assumptions
to reflect the 1H 2018 run-rate.
For the outer years, Goldman raised the fuel price assumptions to reflect updated jet
fuel price forecasts driven by higher jet fuel crack spreads, due to the impact of IMO
regulations. It also lowered ex-fuel unit costs, and kept its yield assumptions largely
unchanged. (KL)
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00753 AIR CHINA
Nominal 
3.750 -0.080 (-2.089%) Others
14/09/2018 17:27
[I-bank focus]Goldman lowers Air China (00753) to HK$7.45
| Remark: | Real time quote last updated: 19/04/2024 15:34 |
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