Zhi Tong Cai Jing·2026-01-20 09:05Core Viewpoint - Bank of America Securities has a positive outlook on Asia-Pacific airlines for 2026, expecting profitability to be supported by sustained high ticket prices, healthy demand, improved cargo fundamentals, and potential benefits from excess oil supply [1] Group 1: Earnings Forecast - The average earnings per share forecast for Asia-Pacific airlines for 2025 to 2027 has been raised by 22% to reflect improved passenger and cargo unit revenue outlook [1] - The largest upward revision is for mainland Chinese airlines [1] Group 2: Target Price Adjustments - The average target price for Asia-Pacific airlines has been increased by 30% to reflect the earnings forecast adjustments [1] - China Eastern Airlines' target price has been raised from HKD 2 to HKD 2.9, maintaining an underperform rating [1] - China Southern Airlines' target price has been increased from HKD 3.1 to HKD 5.92, with the rating upgraded from underperform to neutral [1] - Air China’s target price has been raised from HKD 4.2 to HKD 8.3, with the rating upgraded from underperform to buy [1]