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Fly News Breaks for January 16, 2019
AICAF
Jan 16, 2019 | 20:32 EDT
HSBC analyst Parash Jain upgraded Air China two notches to Buy from Reduce and raised his price target to HKD8.70 from HKD5.60 as part of his broader research note on Chinese Airlines. The analyst sees more positives for the sector such as more favorable oil prices, and FX rates, anticipating doubling of profits in 2019. Jain also notes the airline's attractive valuation, with the stock trading at 0.88-times his expected 12-month forward price to book, just above its trough of 0.85-times since mid-2011.
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