智通财经APP获悉，摩根大通发布研报称，中美贸易战下航空股面临重大挑战，由于中国对美国进口商品征收125%的关税，将导致航空公司维护成本和新飞机交付成本上升，当中预期中国国航(00753)和中国南方航空股份(01055)将受到最严重的冲击，因为其机队中波音飞机占比较高，亦因为美国对中国进口商品征收145%的关税及取消免税门槛，打击中国航空公司的货运业务，预料国泰航空(00293)和南航将首当其冲。
小摩将国航评级从“增持”分别下调至“减持”，目标价由5.9港元降至3.8港元，将南航评级从“增持”下调至“减持”，将目标价由4.6港元降至2.4港元，将中国东方航空股份(00670)的评级从“增持”调低至“中性”，目标价由4.6港元降至2.4港元。该行目前行业首选为春秋航空(601021.SH)，因春秋航空是一家低成本航空公司，而且机队全部为空客飞机，在避免关税相关成本方面具战略优势，给予“增持”评级。小摩调低国泰的目标价由11港元降至8.1港元，维持“中性”评级。
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