《大行报告》摩通料内地车市需求第四季复苏 首选广汽(02238.HK)
摩根大通发表研究报告,指虽然有一半该行覆盖的内地汽车股的业绩表现差过预期,但此板块的股价在过去一个月录得小幅反弹。最新的行业销售、定价及库存数据确认该行认为行业需求在8月份维持疲弱的看法,但在库存水平非常低及持续降价下,情况应会逐渐改善。该行相信,在低基数效应下,需求将会在今年第四季或明年有所复苏。
该行表示,若交易量复苏的情况确实发生,会较看好代工生产的企业,首选广汽集团(02238.HK),主要是受惠於新的产能及其两个日本合资公司推出新型号。而东风集团(00489.HK)及北京汽车(01958.HK)也受惠於低估值及吸引的收益率。
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