[ET Net News Agency, 21 April 2020] Daiwa Research raised its target price for BOC
Aviation (BOCA)(02588) to HK$85 from HK$82 and maintained its "buy" rating.
The research house expects BOCA's new purchase-and-leaseback (PLB) deal with United
Airlines to result in more-than-expected PLB transactions. With most of the airlines still
under financial distress despite government aid, Daiwa believes BOCA will benefit from
more PLB transactions, along with better lease yield, from its strong bargaining power
over airlines.
In addition to better returns, Daiwa sees the recent frequent transactions proving
BOCA's ability to access cash, with its recent increase of the GMTN (Global Medium Term
Note) program to US$15bn from US$10bn.
Daiwa lifted its 2020 PLB transaction assumption to 32 aircraft from 16. It also raised
its 2020-22 EPS forecasts by 3-7%. (KL)
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02588 BOC AVIATION
Nominal 
63.250 +0.049 (+0.078%) Research Report
21/04/2020 10:18
{I-bank focus}Daiwa raises BOC Aviation (02588) to HK$85
| Remark: | Real time quote last updated: 23/09/2024 17:59 |
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