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《大行報告》瑞銀下調北京汽車(01958.HK)目標價至2.9元 評級「中性」
阿思達克 05-18 09:42
瑞銀發表研究報告,指北京汽車(01958.HK)自有品牌虧損減少的策略,目前仍難以估算,因其X7自去年中推出後,以及新推出U5 Plus與EU5 Plus在市場上的吸引力與興趣亦溫和,加上原材料成本上升,晶片供應持續緊張,均令短期毛利受壓。

該行指,在盈利復甦可見性低,以及與現代之合營表現呆滯的情況下,公司將更依賴與奔馳合營的表現,調整今明兩年每股盈利預期分別-8%及14%,目標價由3.3元降至2.9元,重申「中性」評級。

該行指,北京汽車首季表現穩健,但相信主要的不確定性仍圍繞北汽奔馳的合營持股比例,料可參考寶馬增持華晨寶馬一例。

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