[ET Net News Agency, 15 April 2021] Guotai Junan raised its target price for China
East Air (00670) to HK$4.13 from HK$3.5 and maintained its "accumulate" rating.
The research house said it rolls forward its base year to 2021. It revises its earnings
forecasts downwards in 2021 to 2022, expecting to turn into profit only in 2022. It is
optimistic with domestic traffic recovery, only slightly dragged by the
hiccup in Chinese New Year. Whereas, it is more conservative on recovery of international
routes as vaccine distribution shows that there are challenges to fully control the
pandemic. It expects less than 50% traffic recovery as compared to 2019. Elsewhere, the
surge in oil price will be slowing down the recovery process. (RC)
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00670 CHINA EAST AIR
Nominal 
2.070 +0.040 (+1.970%) Research Report
15/04/2021 14:30
{I-bank focus}GJ raises China East Air (00670) to HK$4.13
| Remark: | Real time quote last updated: 10/05/2024 17:59 |
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