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《大行報告》吉利汽車(00175.HK)投資評級及目標價(表)
阿思達克 03-10 17:00
吉利汽車(00175.HK.HK)將於本月23日公布截至去年業績,基於公司1月曾披露去年全年銷售132萬輛汽車按年跌約3%,符合定目標,但券商關注去年下半年成本及分銷渠道迎來壓力,本網綜合20間券商預測,吉利汽車2020年純利料介乎63.13億至77.65億元人民幣,較2019年同期81.9億人民幣,按年下跌5.2%至減少22.9%,中位數為72.07億元人民幣,按年下跌12%。

由於吉利2月下旬曾公布,與沃爾沃汽車在保持各自現有獨立公司結構的基礎上,將進行包括動力總成業務合併及計劃在今年投入運營,還將為其他汽車公司提供產品和服務;在目前共享兩款純電動車模塊化架構的基礎上,共同開發下一代純電動車,令市場關注吉利管理層給予最新營運指引(包括CMA架構下推出SUV及轎車車型)、與沃爾沃汽車合作發展(關注沃爾沃、領克及吉利的品牌梯隊問題),投資者亦關注面臨成本上漲的風險;而吉利1月曾披露2021年總銷量目標為153萬部,較2020年按年升16%。

下表列出21間券商對其評級及目標價:

券商│投資評級│目標價(港元)

未來資產│買入│60元

花旗│買入│58.66元

摩根大通│增持│50元

建銀國際│跑贏大市│41.4元

國泰君安│買入│40.11元

中信建投│買入│40元

大和│買入│40元

瑞穗│買入│39.4元

美銀證券│買入│38元

星展│買入│35元

招銀國際│買入│35元

瑞銀│買入│34元

野村│買入│33.6元

瑞信│跑贏大市│33元

光大証券│買入│31.92元

中信証券│買入│30元

麥格理│跑贏大市│28.4元

中銀國際│買入│28元

大華繼顯│持有│23元

法巴│減持│15.5元

摩根士丹利│減持│13元

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