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《大行報告》摩通下調重汽(03808.HK)目標價至14元 評級「中性」
阿思達克 09-02 14:46

摩通發表的報告指,中國重汽(03808.HK)上半年業績表現符該行預期,但較市場預期差10%-15%,當中重型卡車銷售表現好過預期,相信主要受惠國六排放標準推行前的購買潮,該行估計今年全年其重型卡車銷售將達97.4萬台,按年下跌15%,而下半年將現銷售下滑,摩通解釋主要因為預期液化天然氣卡車銷售將放慢,以及預期「路轉鐵」將加快等。

該行指出期內公司於中國的重型卡車銷售表現符預期,而出口方面則按年升5%,主要受惠銷量增長、平均銷售單價提升以及成本管控見效,期內經營利潤率大增270個基點,而輕型貨車方面銷售則跌5%,主要受政策轉變拖累,相關業務亦錄得虧損,該行維持對重汽「中性」評級,目標價由15.5元降至14元。

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