20/08/2019 17:12

{I-bank focus}Goldman lifts BOC Aviation (02588) to HK$74.65

[ET Net News Agency, 20 August 2019] Goldman Sachs raised its target price for BOC
Aviation (BOCA)(02588) to HK$74.65 from HK$67.6 and maintained its "neutral" rating.
The research house said BOCA's 1H result was in-line with Goldman's expectations.
Given the importance of the aircraft for the industry and BOCA (54% of BOCA's aircraft
on order are 737-MAX aircraft), investor/analyst focus was centered around the MAX and its
potential timeline for return. The management stated that while it is difficult to
ascertain the delivery timeline of the MAX aircraft, it expects some or all of its 23 MAX
aircraft that were scheduled for delivery in 2019 to be delayed out of this year
Post results and new management guidance, Goldman revised its FY2019/20/21 adjusted EPS
forecasts by +1%/-4%/-2%, mainly due to lower net lease yields. (KL)

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