HSBC analyst Parash Jain double upgraded China Southern Airlines to Buy from Reduce with a price target of HK$6.20, up from HK$3.50. The analyst says the "rapid easing" of COVID-19 restrictions in China build hopes of domestic travel reopening again and international travel for the first time. The big three airlines are geared to deliver record profit in 2024 as international reopening would tighten domestic yield, Jain tells investors in a research note.
Published first on TheFly
