《大行報告》大和上調美東汽車(01268.HK)目標價至48元 評級「買入」
大和發表研究報告指,美東汽車(01268.HK)上半年銷量表現平穩,當中第二季表現似乎強勁,保時捷及凌志訂單週期維持於1至2個月,寶馬及豐田則分別爲0.5個月及0.8個月。
管理層估計次季寶馬銷量增長繼續穩健,但由於寶馬代工補貼有所減少,料上半年毛利率將由去年下半年略有下降。在供應緊張的環境下,公司預期其他高端汽車品牌的毛利水平維持穩定,下半年或錄按年升幅。
美東汽車計劃於今年開設9家新店,當中7家爲自營店,預期有助刺激銷量。大和指,公司計劃未來三年每年店鋪數量增長10%,並將提升售後服務效率。大和重申「買入」評級,目標價由41元升至48元。
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