《大行報告》摩通上調廣汽(02238.HK)目標價至10.5元 下調中升(00881.HK)目標價至60元
摩根大通發表研究報告指,中國汽車市場疲軟情況可能持續到年底。5月至6月汽車板塊升勢強勁,因此出現回調,6月下旬起中國汽車股自近期高位累積回落12%,跌幅超出同期國企指數的10%,扭轉了5月份政策刺激及疫情放緩所帶來的升幅。
市場憧憬下半年潛在需求強勁,大多數OEM廠商仍堅持全年批發目標,但該行表示,高期望可能會導致更大的失望,包括上半年汽車股盈利表現或遜於預期,以及下半年需求復甦可能未足夠,因此維持第一季時訂立的預測。
該行看好比亞迪(01211.HK)及廣汽(02238.HK),預期第二季將實現穩健盈利表現,並上調廣汽目標價至10.5元,評級「中性」;預測吉利(00175.HK)上半年盈利將按年跌24%。摩通另外分別下調中升(00881.HK)及中國重汽(03808.HK)目標價至60元及6.5元,評級「增持」及「減持」,預測由於重型卡車表現疲弱,重汽上半年盈利將按年下跌75%至78%。
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