《大行报告》瑞银下调长汽(02333.HK)目标价至6.2元维持「中性」评级
瑞银发表报告表示,将长汽(02333.HK)2019年至2021年盈利预测下调20-30%,以反映下行周期延长及排放标准改变带来的负面影响,维持对其「中性」评级,该行将长汽目标价由6.8元降至6.2元,此相当预测2020年市盈率10倍。
该行指,中国5型排放汽车今年第二季度去库存打压了定价,因此料长汽第二季盈利料低於第一季,并估计公司第三季销售料继续受影响。此外,虽然长汽年初至今已重新抢占市场份额,但瑞银关注公司毛利率仍然受压。
瑞银表示,下调对长汽於2019年至2021年每股摊薄盈利预测各39%、27%及18%,各至0.42、0.56及0.63元人民币。
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