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《大行報告》高盛上調中升(00881.HK)目標價32%至100元 維持「確信買入」名單內
阿思達克 10-23 10:06
高盛發表研究報告,指中升控股(00881.HK)正開展前所未有的的業務加速年代。透過其市場領導地位,中升旗下各核心品牌將準備推出旗艦產品及擴張網絡。該行認為,中升面對多項新增長機遇,在去化率效益及成本控制方面可達至規模效益。

該行指出,目前內地豪華汽車的高端化速度遠較過去為快,高盛料中升盈利增速將由今年上半年的10%加快至下年年的35%,明年增長達35%,估算高於其他券商預期。儘管中升股價本年至今累升約70%,該行相信目前公司轉型計劃尚未得到市場完全理解,目標價增32%,由75.7元升至100元,相當於2023年預測市盈率20倍;重申「買入」評級,並列入「確信買入」名單內。

高盛上調中升2020至2024年各年收入預測分別3%、5%、8%及10%,以反映市場環境改善,及領先品牌的進一步擴張。該行另上調中升同期各年純利預測分別2%、5%、15%及25%,以反映收入預測改善及更佳經營槓桿,指中升的品牌組合捕捉到豪華汽車市場整合趨勢,以及其在收入及成本方面可達至規模效益。

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