《大行報告》富瑞下調中升(00881.HK)目標價至80.4元 評級「買入」
富瑞發表報告,預測中升(00881.HK)2022和2023財年的收入將按年分別增長21%和14%,盈利將按年增長21%和16%。目標價由93.81元下調至80.4元,相當於15.5倍的2022年預測市盈率,重申「買入」評級,是其汽車經銷商領域的首選。
報告指,中升去年下半年盈利按年增長43%至46億元人民幣,好過該行和市場預期。此外,新能源車網點的擴張和未來不斷增長的二手車業務亦不容忽視。該行相信今年中升旗下的主要品牌,如Mercedes和Lexus需求具彈性。在不斷擴大的網絡、成功收購仁孚中國和管理能力支持下,該行預計中升將在今年實現20%以上的收入和盈利增長。
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