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大和:升美東汽車(1268.HK)目標價至34港元 上調評級至買入
格隆匯 08-21 15:54

大和總研發表研究報告指,美東汽車(1268.HK)第二季度豪華汽車需求強勁復甦得到證實,預計公司下半年售後市場增速將加快,且在2020-22年中有望成為經銷商中增速最快的公司。該行將公司評級由優於大市上調至買入,目標價由21.93港元上調至34港元。

大和指,公司中期業績顯示第二季度利潤增長強勁,超出市場一致預期,而且庫存週轉天數進一步降低,預計公司下半年盈利能力將進一步改善,主要因為保時捷及寶馬新車銷售利潤更高,同時售後服務帶來的收入亦在增加。

大和指,公司資產負債表表現良好,預計2020-22年的股息比率會逐步提高,又將其2020-21年每股盈利預測上調2-3%。

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