《大行報告》里昂升濰柴(02338.HK)目標價至18.25元 評級「買入」
里昂發表研究報告指,濰柴(02338.HK)受惠市佔率上升及較好的成本控制,上半年收入及盈利分別按年增長10.5%及20.4%,高於該行預期。銷售及行政開支比率亦下跌1個百分點至9.5%,以應對節省成本的目標。
報告指,公司很有可能成為發動機行業的市場領導者,受惠其成功的非道路用發動機業務,以及與中國重汽(03808.HK)進行重組。該行維持濰柴2019年度盈測不變至105.65億元人民幣,但將2020年度及2021年度盈測分別調高6%及8%,至119.83億元人民幣及130.7億元人民幣。並將目標價由17.82元升至18.25元,維持評級「買入」。
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