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花旗:上調中國重汽(3808.HK)評級至“買入” 目標價24.8港元
格隆匯 07-03 11:04

花旗發表研究報告表示,由於銷售強勁,將中國重汽(3808.HK)評級由“中性”上調至“買入”,目標價由14港元升77.1%至24.8港元,以反映今年下半年及明年更樂觀的前景。

該行表示,6月內地重型卡車銷售額同比增長59%;內地重汽同比增長41%;銷售增加由於被壓抑的需求釋放、加速的替代品和下游推動需求恢復,預計這種銷售實力將持續到7月,加快NS3排放標準的淘汰。

該行稱,基於政策支持和強勁的更換需求,該行提高今明年2年重型卡車銷量預期,對內地的重型卡車行業的近期前景持樂觀態度,主要原因包括加快淘汰NS3替代購買補貼、及即將出台的禁令可能在6月至8月會促進替換需求。監管部門將繼續嚴格執行卡車重量限制來迫使車隊運營商,用重型卡車替換輕型卡車;加上政府可能會出台支持性政策以支撐固定資產投資來穩定GDP,這將轉化為強勁的工程車需求等,該行預計明年上半年將為其帶來穩定的銷售。

該行對中國重汽6月份的穩定銷售持樂觀看法,並將其今明年銷售商用車預期分別上調至483及485萬架,增長3%及1%,重型卡車銷量預期為128萬及 132萬架,增長9%及3%。

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