花旗:維持廣汽(2238.HK)“中性”評級 目標價8.7港元
花旗發表報告指,預計廣汽集團(02238.HK)與本田合營之新型號「皓影Breeze」在全面推出後每月可錄得9,000輛銷售,料今年相關分部銷售可錄得78萬輛,2020年及2021年則分別錄得88.7萬輛及94.4萬輛,毛利率亦可保持穩定,惟該行認為本田CR-V之每月銷售表現將更強勁。至於與豐田合營車款,則預計今年全年銷售68.6萬輛,2020年及2021年分別銷售80.4萬輛及86.3萬輛,並料豐田與廣汽將視乎市況,推出新車款。
該行表示,調整廣汽盈利預測,上調其與本田及豐田的合營車款盈利表現,自家車款之盈利預測則下調,整體下調2019年至2021年盈測各9.1%、2.1%及0.3%,目標價相應自8.9港元小幅下調至8.7港元,此相當預測2020年市盈率8.5倍,維持“中性”評級。

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