美銀證券:升廣汽(2238.HK)評級至“中性” 目標價上調至9.9港元
美銀證券發表研究報告將廣汽(2238.HK)
評級由“
跑輸大市
”升至“
中性
”,以反映其新的傳祺GS4推出及訂單情況勝預期、更多型號的升級及銷售均價改善,有助提升廣汽的產品組合,相信公司2020年業績會有改善。而來自廣汽本田及廣汽豐田的銷售都有新型號支持,分別上調2020-21年盈利預測14%及8%,目標價由6.4港元升至9.9港元。
該行預期公司的銷售和利潤可因推出新的傳祺GS4而銷改善,同時提供的折扣亦可收窄。公司亦會於第四季推出傳祺GA6,明年會升級GA8、GA4及GS3。美銀上調2020-21年銷售預測分別14%及19%。
該行又指,廣汽本田將於11月推出皓影BREEZE(中型SUV),並於明年下半年推出新一代的Fit和混能繽智Vezel。由於BREEZE反應理想,升廣汽本田2020-21年銷售分別2%及3%;而廣汽豐田亦將於明年上半年推出威蘭達Wildlander(緊湊型SUV),相信新型號均可帶動穩定的盈利,而廣汽的投資收入可於2020-21年各增長8%。
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