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大和吉利股价调整后为入市时机惟目标价降至16港元
格隆汇 07-12 11:26

大和发表研究报告指,吉利汽车(0175.HK)在股价调整后提供良好入市时机,虽然公司上半年业绩显示毛利率下降较预期更差,不过该行相信股价已反映不利因素,重申予其“买入”评级,目标价由18港元调低至16港元。

大和相信,公司于2019年下半年毛利率可较上半年改善,升至18.5%的水平,因“国六排放标准汽车价格更高,预期吉利在短期内亦未为经销商提供折扣。

该行将吉利今年至2021年的每股盈利调低3-12%,毛利率由19-20%下调预测至18-20%,销售量亦被略为调低至136-159万辆。对于今年下半年,大和估计利润增长率平稳,2020年则会有27%的盈利反弹,2021年会由毛利率复苏而带动盈利增长17%。

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