《大行报告》吉利汽车(00175.HK)投资评级及目标价(表)
吉利汽车(00175.HK.HK)将於本月23日公布截至去年业绩,基於公司1月曾披露去年全年销售132万辆汽车按年跌约3%,符合定目标,但券商关注去年下半年成本及分销渠道迎来压力,本网综合20间券商预测,吉利汽车2020年纯利料介乎63.13亿至77.65亿元人民币,较2019年同期81.9亿人民币,按年下跌5.2%至减少22.9%,中位数为72.07亿元人民币,按年下跌12%。
由於吉利2月下旬曾公布,与沃尔沃汽车在保持各自现有独立公司结构的基础上,将进行包括动力总成业务合并及计划在今年投入运营,还将为其他汽车公司提供产品和服务;在目前共享两款纯电动车模块化架构的基础上,共同开发下一代纯电动车,令市场关注吉利管理层给予最新营运指引(包括CMA架构下推出SUV及轿车车型)、与沃尔沃汽车合作发展(关注沃尔沃、领克及吉利的品牌梯队问题),投资者亦关注面临成本上涨的风险;而吉利1月曾披露2021年总销量目标为153万部,较2020年按年升16%。
下表列出21间券商对其评级及目标价:
券商│投资评级│目标价(港元)
未来资产│买入│60元
花旗│买入│58.66元
摩根大通│增持│50元
建银国际│跑赢大市│41.4元
国泰君安│买入│40.11元
中信建投│买入│40元
大和│买入│40元
瑞穗│买入│39.4元
美银证券│买入│38元
星展│买入│35元
招银国际│买入│35元
瑞银│买入│34元
野村│买入│33.6元
瑞信│跑赢大市│33元
光大证券│买入│31.92元
中信证券│买入│30元
麦格理│跑赢大市│28.4元
中银国际│买入│28元
大华继显│持有│23元
法巴│减持│15.5元
摩根士丹利│减持│13元
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