《大行报告》瑞信升比亚迪(01211.HK)目标价至310元 评级「跑赢大市」
瑞信发表研究报告,指出比亚迪(01211.HK)今年1月份销售按年增长68%至42,401辆,高於市场对行业按年增长21%的预期,主要是受到新能源汽车业务所带动,「汉」旗下的高端大型轿车的销售按年增长183%。
公司指引「汉」的销量在1月份创新高,录逾12,000辆。随着比亚迪计划发展更多新能源车超市或商场店,该行将「汉」的强劲势头归功於其分销网络的扩张。估计「汉」的高端大型轿车在今年全年销售9万辆。
另外,公司在上月28日成功完成了H股配售,以每股225元发行1.33亿股,集资249亿元人民币,有助通过减少银行贷款来下调财务费用。考虑到其H股配股後,财务费用减少,将其2021至2022年的纯利预期上调3.1%至4.6%,目标价由原来的270元上调至310元。维持「跑赢大市」投资评级。
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