《大行報告》匯豐研究上調中聯重科(01157.HK)目標價至15.2元 評級「買入」
匯豐研究發表報告,預計中聯重科(01157.HK)第二季將會滿負荷生產,未來幾個季度的銷售額按年增長19%。該行將2021至2023年度的盈利預測分別上調9%、6%和9%,並將目標價由14.9港元升至15.2港元,評級維持「買入」。A股目標價就由12.6元人民幣升至12.9元人民幣,評級維持「持有」。
匯豐預計,中聯重科的毛利率在未來幾個季度將保持穩定。雖然鋼材等原材料價格上漲可能對利潤率構成壓力,但有關增長勢頭已經放緩。同時,公司在3月和4月連續提高了混凝土機的平均售價,並可能在6月進一步提高砂石車和中低噸位卡車起重機定價,相信平均售價的增長能夠抵銷原材料價格的上漲,預計毛利率將由首季的27.2%,升至今年全年27.5%。
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