大和:降華晨中國(1114.HK)目標至7.5港元 看好華晨寶馬前景
大和總研發表研究報告指,華晨中國(1114.HK)去年輕型客車及多用途汽車的銷售疲弱,業績稍遜預期,但華晨寶馬的前景仍維持強勁,料銷量能在今年第二季回覆。大和重申其“優於大市”投資評級,目標價由7.9港元下調至7.5港元。
大和表示,由於新冠肺炎帶來的銷售中斷較預期強,該行將華晨中國2020年銷量增長預測由10%,下調至5%,但隨着疫情在中國受控,銷量或由今年第二季恢復。大和又指,華晨中國計劃在下半年推出5系列改款,能有利其銷售增長。
輕型客車及多用途汽車方面,該行認為短期內都不會扭虧為盈,大和並下調其2020-21年每股盈利預測2-8%。

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