BOC Aviation Ltd Shs Unitary 144A/Reg S
02588: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$31.00 | Dkmd | Bcvcljkch |
Initiating Coverage of BOC Aviation With No Moat and FVE of HKD 68
We are initiating coverage on BOC Aviation with no moat and a fair value estimate of HKD 68, indicating a 2023 price/book ratio of 1.1 times. This is in line with its precoronavirus trading range and reflects pandemic-related industry uncertainties fading away. Our fair value estimate represents an upside of around 10% from the recent share price level.