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瑞银下调耐世持(1316.HK)目标价至8.5港元维持“沽售”评级
格隆汇 07-16 10:48

瑞银发表报告表示,耐世持(01316.HK)股价自2月底以来已累跌17%,主因去年下半年业绩表现较差,以及今年上半年汽车生产的数字积弱所致,相信公司北美迁厂利润受压的问题已经在股价中反映,而中国业务则因客户数字少而录较差的表现。

该行指,降耐世持2019至2020年收入预期分别9%及13%,纯利预期降14%及22%,重申对其“沽售”评级,目标价由10.3港元降至8.5港元,此相当预测2019年/2020年平均市盈率9.5倍。

瑞银称,耐世持的北美和中国业务合共占去年收入的85%,预期公司於两地的利润会收窄,不过预期欧洲新客会对冲部份影响,而且北美业务见改善空间,但目前执行力仍存疑,故未能抵销短期风险影响。

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