UBS: Upgrades Beijing Capital International Airport shares (00694.HK) target price to 3.22 Hong Kong dollars; first half performance falls short of expectations.

According to the Securities Times app, Credit Suisse released a research report stating that Beijing Capital Airport (00694.HK) had a year-on-year increase in revenue of 2.6% to 2.8 billion yuan in the first half of the year, narrowing its loss to 163 million yuan, compared to a loss of 376 million yuan in the same period last year. However, the performance was lower than the bank's and market expectations. The bank lowered its earnings per share forecast for 2025 to 2027 from 0.02 yuan, 0.08 yuan, and 0.13 yuan to -0.05 yuan, 0 yuan, and 0.04 yuan respectively, while slightly raising the target price from 3.1 Hong Kong dollars to 3.22 Hong Kong dollars due to a decrease in weighted average cost of capital (WACC); maintaining a neutral rating.