《大行报告》美银证券下调敏实(00425.HK)目标价至28元 反映内地增长放缓
美银证券发表研究报告,降中国汽车销售预期,由-1%进一步扩至-5%,除因农历年後生产延期,同时交通运输亦影响员工回厂和零件供应。该行预期,新型冠状病毒疫情将於今季影响情绪,而第二季需求复苏预期亦会缓慢,降敏实(00425.HK)2020/21年盈利预测分别13%及10%,维持去年预测不变,目标价由32元降至28元,重申「买入」。
该行指,敏实厂房自农历年起至2月6日停产,部份厂房於2月10日复工,轻微影响出口,而其武汉厂房则只占低双位数生产比例,并主要供应东风本田,管理层指会拉低内地上半年销情,但相信生产不是障碍,汽车市场的复苏才是关键。
该行又指,公司於去年第三季推出铝电池盒产品,并计划於今年下半年生产铝门框,利润预期会於开始时较低,贡献有限,海外增长会是毛利的主要推动来源。(ic/u)~
阿思达克财经新闻
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