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《大行報告》瑞銀升中車時代電氣(03898.HK)評級至「買入」 目標價上調至61.1元
瑞銀髮表研究報告,考慮中車時代電氣(03898.HK)旗下IGBT業務(絕緣柵雙極晶體管)增長加快,以及核心業務開支控制得宜,上調其今年至2023年每股盈測10%至12%。考慮外國品牌主導電動車IGBT供應緊張觸發入口替代品,料中車時代在中低端市場市佔將擴大,由2020年的1%,擴至2025年的19%。

報告稱,其擬議A股發行將提升研發能力,股權激勵計劃將提振長遠增長。該行預期2022年起機車車輛需求將上行,現估值相當於明年預測市盈率17倍屬吸引,料未全面反映IGBT業務增長潛力。該行料其能源半導體板塊將在2024年收支平衡,並在2025至2030年持續健康發展,長遠貢獻盈利料達25%。該行予目標價由37.4元升至61.1元,評級由「中性」上調至「買入」。

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