中金上调吉利(0175.HK)目标价22%营运稳健投资气氛好转
中金公司发表研究报告指出,虽然吉利汽车(0175.HK)上半年淨利润按年倒退,但其淨利润和经营性现金流依然稳健,同时考虑到投资者风险偏好有所修复,因此上调其目标价22.2%至11港元。

报告说,受惠于吉利汽车过去3年的快速发展,公司淨现金馀额和营运资本维持稳定,在需求疲弱、行业进入存量市场竞争的时候,吉利下半年将可适当提高营销费用,提升产品竞争力与品牌定位。
报告又指,吉利汽车的利润来源多元化,可用汽车金融、海外市场来对冲中国市场短期的竞争加剧与需求下滑。
吉利截至今年6月30日止中期纯利40.1亿元人民币,按年跌40%,符合分析师预估不派息。
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