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里昂:升东风集团(0489.HK)目标价至10.92港元 评级“买入”
格隆汇 08-30 11:20

里昂发表研究报告指,东风集团(00489.HK)上半年盈利跑赢大市,今年销量指引由308万辆降至298万辆,相等於下半年销量按年升4%,相对上半年销量按年跌9%。与日本品牌合营的双位数增长可带动整体盈利。公司能够遵守新能源车监管政策,但需要投入成本,预期自有品牌需至明年第二至第三季才会转盈。

该行升2019-20年盈利预测分别27%及45%,以反映更高利润和日本合营强势,目标价由8.64港元升至10.92港元,维持“买入”评级。

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