China Eastern 0670

[winston]

Not vested. From Dr. Check, The Standard HK:-

Another preference is China Eastern Airlines (0670), whose share price has fallen from HK$5.38 in October, closing yesterday at HK$3.91. It is now attractive enough to be a bargain.

[winston]

China Eastern Cancels Order for 24 Boeing 787 Dreamliner Jets

The shift, disclosed in a regulatory filing in Hong Kong on Monday, marks one of the biggest order cancellations for the Dreamliner, Boeing's first all-new airliner in 16 years.

Source: Wall Street Journal

[winston]

China Eastern Expects 1Q Profit To Fall More Than 50% >CEA

Source: Dow Jones Newswires

[winston]

not vested

CHINA EAST AIR (00670.HK) target raised to $2.85, rated Buy - Deutsche

Deutsche Bank said in its research report that given a mild growth of CHINA EAST AIR (00670.HK) +0.060 (+2.264%) Short selling $2.83M; Ratio 15.647% 's year-to-date passenger capacity and lowered yield estimate, it still raise the company's FY2014-16 earnings estimates by 1.7%-2.1% on decreased fuel cost assumption and other cost disciplines.

The target price was raised from $2.6 to $2.85.

As a result of an improving outlook on the company, Deutsche maintained its Buy rating.

Source: AAStocks Financial News

[winston]

not vested

CHINA EAST AIR (00670.HK) kept CL Buy, target hiked to $3.8 - G Sachs

Goldman Sachs said in the latest research report that based on the updated estimates, it adjusted the 2014/15/16 EPS forecasts for CHINA EAST AIR (00670.HK) +0.020 (+0.714%) Short selling $837.42K; Ratio 1.861% by -8.9%/+9.2%/+5.3%, respectively, to factor in lower yields and lower jet fuel prices.

The company's target price was lifted from $3.6 to $3.8.

Besides, the research house maintained a Buy rating on China Eastern Airlines, and added the company to its Conviction Buy list of the research house.

Source: AAStocks Financial News

[winston]

not vested. I'm concerned about MERS hitting the airlines ...

China Eastern outperformed as oil prices are falling.

Half-year earnings are set to hit 3.5 billion yuan (HK$4.37 billion), up 250 percent.

Tourist and business travel keep rising, so the uptrend remains intact.

Source: Dr Check, The Standard

[winston]

not vested

China East Air (670 HK)

The stock price of Chinese carriers plunged around 40-50% from their high, mainly dragged by the Renminbi depreciation expectation and the rebound of crude oil price.

The sector is trading near trough valuations, and we treat it as a rare opportunity to accumulate.

This is because the carriers may hedge Jet fuel/Brent, which could smoothen the earnings fluctuation affected by the change of oil price, and also enable them to indirectly mitigate the risk of further Renminbi devaluation.

We have BUY ratings for Air China (753 HK), China East Air (670 HK), and China South Air (1055 HK), with China East Air remaining our top pick.

Source: UOBKH

[winston]

not vested

Ctrip buys ticket to fly with China Eastern

US-listed Ctrip, China's biggest online travel agent, has spent 3 billion yuan (HK$3.6 billion) to buy 3 percent of enlarged shares of state-owned China Eastern Airlines (0670) through a private share placement.

The two Shanghai-based companies also signed a strategic cooperation agreement in Shanghai yesterday. Their cooperation will focus on grabbing market share in China's outbound travel and low-cost transportation industry.

Ctrip may also elect to further increase its stake in the listed carrier to 10 percent over the next 12 months, the travel company said.

The A-share subscription came after the US's Delta Air Lines bought 3.5 percent of China Eastern shares and an observer seat on its board for US$450 million (HK$3.51 billion) through the H-share market last September, becoming its largest overseas shareholder.

China's second-largest carrier by passenger numbers said early this year it will raise a total of 15 billion yuan by issuing A shares to up to 10 potential investors at 6.44 yuan each.

Its H shares stood at HK$4.57 before it halted trading yesterday.

This is expected to reduce its parent China Eastern Air Holding Company's stake to 50 percent from 64 percent.

Source: REUTERS

[winston]

not vested

China East Air 中國東方航空股份 (670 HK)

CEA will release its 1H16 results on 31 August.

We expect a 19% yoy rise in ore net profit to Rmb4.3b, but net profit to decline 14% yoy due to forex losses.

We gather that the pace of decline in domestic and international pax yields would likely have more than halved yoy.

The company also guided its US$ debt at 50% of total debt (2015: 87.3%).

CEA is trading at 5.8x 2016F PE - the low valuation is likely to support the stock going forward.

We maintain BUY rating with target price of HK$6.00.

Source: UOBKH