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《大行報告》大摩首予理想(02015.HK)及小鵬(09868.HK)H股「增持」評級 上調比亞迪(01211.HK)目標價
摩根士丹利發表報告指,內地電動車行業進入了新的發展階段,追求質素升級及全球機會。該行認爲,監管重設將推動行業整合,並利好龍頭品牌及吸引更多技術進入,要從中取勝將需要生態系統而非僅生產車輛。 該行表示,雖然今年在更廣泛的監管重置下商業環境更爲波動,但認爲電動車行業仍有結構性的正面前景,因其對中國追求可持續環境和技術自給自足依然至關重要。 爲反映今年更爲強勁的新能源車銷售,大摩上調今年中國乘用新能源車銷售預測至305萬輛,明年則升至460萬輛,目前預期中國的新能源車滲透率,可由今年的14%升至2025年的40%。至於未來數年新能源車銷售的滲透率估計亦會進一步攀升,預料至2025年中國將佔全球新能源車銷售的40%。 該行喜好電動車初創、部件及充電解決方案供應商,首次覆蓋研究理想汽車(02015.HK)及小鵬汽車(09868.HK)H股,均予「增持」評級,目標價分別189元及275元。而比亞迪(01211.HK)股份目標價則由132元升至242元,評級「減持」。
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