[ET Net News Agency, 12 March 2020] Daiwa Research raised its target price for BOC
Aviation (BOCA)(02588) to HK$81 from HK$79 and maintained its "buy" rating.
The research house said BOCA's share price has corrected by more than 15% in the past 6
trading days due to misunderstandings (such as rental relief may hurt P&L, high default
risk by customers, and aircraft value at risk) by investors.
Daiwa believes BOCA's 2020 outlook is improving given the recent lease commitment with
American Airlines for 22 new Boeing 787-8s. As such, it raised its 2020-21 EPS forecasts
by 2-11%. (KL)