Citi: Lowers the target price for TRAVELSKY TECH to HKD 12.8, maintains "Outperform" rating

Citi released a research report stating that the latest July operational data from China Civil Aviation Information Network indicates that the recovery of passenger traffic for foreign airlines in the second half of this year may still be slow. The System Integration (SI) business dragged down the company's revenue growth in the first half of the year, but management expects more projects to be launched in the second half. However, the visibility of progress on these projects is low, leading the bank to adopt a more conservative forecast. Citi pointed out that the improvement in the profitability of China Civil Aviation Information Network is proceeding as planned and should continue to advance. The bank lowered its target price from HKD 14.8 to HKD 12.8 but maintained a "Outperform" rating, currently forecasting a net profit of RMB 2.209 billion for this year