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RTNominal down6.060 -0.010 (-0.165%)
Research Report

06/05/2021 17:49

{I-bank focus}Morgan lifts Air China (00753) to HK$8.12

[ET Net News Agency, 6 May 2021] Morgan Stanley lifted its target price for Air China
Limited (00753) to HK$8.12 from HK$7.11 and maintained its "overweight" rating.
The research house sees sequential traffic and earnings improvement in 2Q and 3Q, after
bottoming out in 1Q. Morgan estimated an Rmb4.8bn net loss in 2021, before recovering to a
net profit of Rmb7.4bn in 2022 (exceeding 2019 level) on non-domestic traffic recovery.
It also sees potential catalysts from strong China domestic travel recovery and vaccine
developments. (KL)

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