[ET Net News Agency, 10 March 2020] Daiwa Research raised its target price for China
Eastern Airlines (CEA)(00670) to HK$4.7 from HK$4.6 and maintained its "buy" rating.
The research house raised its 2020-21 EPS forecasts for CEA by 286% and 44%, in view of
the prospects for significantly lower oil prices and the recent favourable policy support.
Daiwa estimated that a US$1 decrease in Brent oil price will result in a 2-3% increase
in net profit over 2020-21. It expects China's traffic demand to remain weak with the
COVID-19 impact lasting until the end-June.
Overall, Daiwa raised its EPS for 2020-21 by 44-286% after factoring in lower oil price
assumptions for 2020-21 and the landing fee cut policy for 2020. (KL)
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00670 CHINA EAST AIR
Nominal 
1.880 -0.020 (-1.053%) Research Report
10/03/2020 14:47
{I-bank focus}Daiwa raises China Eastern Airlines to HK$4.7
| Remark: | Real time quote last updated: 19/04/2024 10:54 |
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