大和降耐世特(1316.HK)目标价至7.4港元评级“跑赢大市”
大和发表研究报告,指耐世特(1316.HK)
上半年业绩差过预期主要由于中国主要客户显著跑出大市,以及由于平台转移,美国订单减少所影响。管理层预期下半年公司中国销售将与市场同步,因为有来自上汽、广汽(2238.HK)
及比亚迪(1211.HK)
的新订单贡献。美国市场方面,在福特推出新计划的支持下,公司受订单下降拖累的收入跌幅料将减少,料下半年收入将按半年持平。
该行预期2020-2021年来自中国的收入将在市场复苏带动下录得增长;美国经营表现则持平;欧洲市场料将强劲,因为摩洛哥厂房于今年6月投产。该行维持耐世特“
跑赢大市
”评级,目标价由13.4港元降至7.4港元。
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