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大和:削東風(0489.HK)目標價至5.9港元 銷售量或於第二季回升
格隆匯 04-01 12:24

大和發表研究報告表示,東風集團(0489.HK)銷售量或自今年第二季回升,受惠於湖北省自3月中推出的刺激措施帶動,在整體汽車行業逐步復甦的支持下,公司價值或被重估,故重申“優於大市”評級,惟目標價由7.3港元削至5.9港元。

報告指,雖然預計銷售自第二季將回升,但由於新冠肺炎疫情影響較預期大,料今年全年東風集團銷售量將按年下跌8%。而東風管理層計劃於下半年出售神龍汽車資產,以減輕合營的現金流及改善生產使用率,相信有關出售對公司正面。

大和將公司2020年銷售量預測下調3%,因疫情影響大於預期,基於去年收入高於預期,故調升其2020-21年收入預測10-12%,而盈利預測則下調6-17%。

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