《大行報告》大摩相信中國中車(01766.HK)股價60日內將升評級「增持」
摩根士丹利發表技術意見報告,相信中國中車(01766.HK)股價於60日內將上升,因為該股近期遭沽售,短期估值吸引。
該行預期中國中車上半年盈利按年增長18%,增長較中車時代(03898.HK)為快;又預期中國中車部分低毛利業務如貨車級城市高鐵軌道業務(佔收入逾20%,但佔盈利僅約8%)將於2019-2020年經歷可觀的毛利率提升,主要受惠於規模效應及協同效應;此外,中國中車2019年預測市盈率僅10倍,低過歷史中位數15倍,股息回報率逾4%。
該行相信出現上述股價上升的機會逾80%,給予該股「增持」評級,目標價10.4元,此按現金流折現率作估值。
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