《大行報告》匯豐研究下調中聯重科(01157.HK)及龍工(03339.HK)目標價 反映較低銷售
匯豐研究發表研報,將今年挖掘機行業銷量預測下調至29.5萬部,預期繼5月錄得按月增長後,下半年亦將錄得按年增長,認為基建及出口增長的推動為潛在催化劑,但利潤空間仍然受壓。
報告指出,由於去年高基數及近期疫情影響,4月行業銷售按年跌43%,憧憬次季基建復甦,但認為疫情依然是關鍵的不確定因素。該行又指,20毫米厚鋼板價格一直保持在較高水平,預期鋼價上漲將繼續為工程機械製造商帶來利潤壓力。
該行維持對中聯重科(01157.HK)及龍工(03339.HK)的「持有」評級,考慮到行業銷售預測下降,將目標價分別下調至5.1元及2.1元(之前分別為5.6元及2.2元),預期今年餘下時間或要面對需求較弱及成本壓力所影響。
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