《大行報告》摩通下調時代電氣(03898.HK)及中國中車(01766.HK)目標價 評級「增持」
摩根大通發表報告表示,將時代電氣(03898.HK)盈利預測下調了約10%,中國中車(01766.HK)盈利預測下調了約5%,這反映了較低的毛利率預測,這可能是由於IGBT 業務較高的原材料成本、較高的研發和啟動虧損。該行將時代電氣目標價由67元下調至62元,中國中車目標價由6.9元下調至6.5元,評級均為「增持」。
該行認為,2022年全球芯片供應緊張,時代電氣汽車級IGBT(絕緣柵雙極電晶體)發展有望實現突破,根據其去年第四季業績中估計,儘管毛利率較低,但收入連續回升。
摩通預計,中國中車去年第四季收入和稅後淨利潤將分別增長12%和按年持平,延續去年首九月略微好轉的運營趨勢。
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