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大和:予吉利(0175.HK)、廣汽(2238.HK)等“買入”評級
格隆匯 10-15 15:04

大和資本發表研究報告指,根據中國乘聯會銷售數據顯示,內地乘用車九月份平均每日銷量按年跌6%,跌幅較八月的8%有所收窄,主要受自主品牌銷量改善帶動。該行推薦吉利汽車(0175.HK)及廣汽集團(2238.HK)均給予“買入”投資評級,並維持目標價15港元及9.9港元,以反映看好下半年自主品牌銷售復升強勁,以及日本品牌車對盈利有支持的預期。

該行指,吉汽及廣汽九月銷量分別按年跌9%及22%,對比八月份兩者銷量跌幅分別達19%及29%,惟東風集團(0489.HK)銷售表現仍疲軟,九月銷量跌幅進一步擴大至24%。然而,豪華品牌車華晨寶馬及北京奔馳銷量則分別按年增8%及18%,相信今年豪華車銷情將會持續跑贏大市,因此看好豪華車代理商永達汽車(3669.HK),予以“買入”投資評級。

大和續指,考慮到十月份有多一個工作日及九月消費者或考慮延遲購車,以迎接國慶70周年等促銷優惠,預期內地乘用車十月份銷量按年跌幅料會持續收窄。在低基數下,估計今年第四季銷情可復升。

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