《大行报告》摩通下调吉利(00175.HK)目标价至46元 评级「增持」
摩根大通发表的研究报告指,吉利汽车(00175.HK)业绩逊市场预期,不过就符合该行预测,而新车款及平台亦在去年下半年开始盈利,认为市场忽略了相关因素,该行相信公司两大举措将带动长远盈利势头及股价表现,其中一个举措是公司将推五款新车,该行估计2021/22年销量将升18%及19%,而到2022年盈利则倍增至110亿元人民币,而另一举措就是公司将分拆新能源车,同时亦有机会上市,而公司首款智能电动车将於4月下旬上海车展中发布。
该行认为公司去年收入跌5%,主要因为受疫情影响销量下降,毛利率及经营利润率分别收窄137个基点及328个基点,主要因为经营去杠杆及去年下半年平台相关开支较高,该行重申对吉利「增持」评级,目标价由50元降至46元。在汽车代工品牌中,摩通喜好吉利、长汽(02333.HK)、蔚来(NIO.US)及小鹏汽车(XPEV.US)。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.