大和:重申永達汽車(3669.HK)“買入”評級 目標價9港元
大和發佈報告稱,永達汽車(3669.HK)兩個主要品牌保時捷和寶馬皆有利公司運營,加上內地汽車市場復甦以及商店的不斷擴張,對公司今年持樂觀態度。
該行稱,永達估值吸引,預計2020-2021年將有強勁的盈利增長,公司2020-2021年盈利將同比增長19%-20%,同時認為其汽車金融業務的潛在分拆機會將進一步重估,因此該公司仍然是該行在汽車經銷商中的行業首選,重申“買入”評級,維持目標價9港元。
該行還稱,永達管理層對今年豪華汽車的需求持樂觀態度,主要由於內地宏觀經濟復甦,可能進一步刺激經濟增長,以及持續的替換和消費升級需求。管理層透露寶馬已發佈今年內地銷量同比增長15%的初步目標,認為永達是寶馬銷量強勁的最大受益者之一。

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