[ET Net News Agency, 6 January 2020] DBS Group Research raised its target price for Air
China (00753) to HK$10 from HK$7.8 and maintained its "buy" rating.
The research house said Air China is its top pick among Chinese airlines. DBS likes Air
China as a proxy to ride on the continued growth in China's civil aviation market, and as
the airline with the best earnings quality among its peers.
In addition to firm demand growth, a relatively benign oil price outlook and stable RMB
versus the USD provides further support for Air China's earnings to improve. (KL)