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中信里昂:维持中银航空租赁(02588)“买入”评级 目标价降至68港元

CITIC Lyon: Maintaining the Bank of China Airlines Leasing (02588) “buy” rating, target price reduced to HK$68

Zhitong Finance ·  11/08/2023 11:52

CITIC Lyon said that BOC Aviation Leasing (02588)'s strong performance in the third quarter of 2023 was mainly due to a general increase in leasing rates and utilization rates.

The Zhitong Finance app learned that CITIC Lyon released a research report saying that maintaining the “buy” rating of Bank of China Aviation Leasing (02588), the target price was lowered 5.5% to HK$68 from HK$72, reflecting environmental factors with high long-term interest rates, and the valuation dropped from 1.1 times the market account rate to 1 times.

The bank pointed out that the company's performance in the third quarter of 2023 was generally strong, mainly due to a general increase in rental rates and utilization rates, and rental rents increased by 7%-12% year on year. Some subsidiaries have also received insurance settlements for Russian aircraft, which may be a potential source of upside.

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