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交銀國際:上調中升控股(0881.HK)目標價至29.8港元 評級“買入 ”
格隆匯 03-24 14:18

交銀國際發佈研究報告,指中升控股(0881.HK)業績好於預期,公司的盈利前景和領先市場地位使其估值具有吸引力。將評級從中性上調至買入,目標價從22.00港元上調至29.80港元,基於11.5倍20年市盈率。

總收入同比增長15.1%,受益於豪華車銷售的強勁增長和穩定的售後服務收入;淨利潤同比增長23.8%,受益於有效的成本控制。

管理層看到1月-2月的銷售受公共衞生事件影響,但3月份零售銷售勢頭回升至正常水平的80-90%。

上半年收入疲軟,交銀國際預計下半年收入將強勁增長。交銀國際將20-21年的盈利預測上調14.5%/20.0%,以反映強勁的豪華車銷售,穩定的售後業務增長和有效的成本控制。

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