《大行報告》美銀美林下調正通汽車(01728.HK)目標價至4.7元評級「買入」
美銀美林發表報告,下調正通汽車(01728.HK)今明兩年收入預測分別2.1%及2.7%,以反映首季銷售按年下降,今明兩年淨利潤預測相應分別下調16%及17%,基於該行同時下調對新車銷售利潤率的預測,目標價自5.6元下調至4.7元。下半年推出的寶馬新3系車款對正通而言屬正面因素,相信在庫存水平維持在健康的情況下,利潤率亦能回升。
由於比較基數低,料下半年盈利將錄得46%按年增長;汽車融資業務增長迅速;加上現時估值吸引,該行重申正通汽車評級「買入」。
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