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《大行報告》高盛下調汽車股目標價 首予蔚來-SW(09866.HK)H股「買入」評級
高盛發表研究報告指出,俄羅斯烏克蘭衝突為汽車製造商零件採購帶來壓力,而由原材料價格主導的投入成本,以及因國內疫情封鎖而影響汽車生產,這些都為汽車製造商營運造成壓力。 因此,該行將乘用車毛利率預測下調150至200點子,並將電動車毛利率預測進一步下調100至200點子,以反映最新的電池價格。同時將2022至2023年代工生產商的盈利預測下調至高達150%。 高盛將汽車股的目標價下調(詳見另表),認為汽車股板塊拋售已經廣大,為個別公司創造吸引的入市機會。相信混合動力製造商如比亞迪(01211.HK)及理想汽車(02015.HK),以及優質經銷商如中升(00881.HK)、美東(01268.HK)及永達(03669.HK),可在目前環境中受惠,估計該些公司於今年結束時的市場份額可能更高,產品定價更強。此外,該行首予蔚來-SW(09866.HK)H股「買入」評級,目標價224元。
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