Morgan Stanley: Gives Air China Limited (00753) a "overweight" rating with a target price of HKD 7.61.
After the stock market rebound led by Chinese technology, business travel also began to pick up, with potential support on the demand side.
Morgan Stanley issued a research report stating that Air China Limited (00753) was given a "buy" rating with a target price of 7.61 Hong Kong dollars. Morgan Stanley continues to be optimistic about the Chinese civil aviation industry being in a supply-driven and multi-year upward cycle, with Air China Limited being their top pick. This is because the company focuses more on pricing rather than passenger volume, and its market share on the China-U.S. route is relatively high. If, following a rebound in the technology-led stock market in China, business travel also picks up, there may be potential support on the demand side.
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