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《大行報告》瑞銀上調比亞迪(01211.HK)目標價至345元 評級「買入」
瑞銀發表研究報告指出,瑞銀證據實驗室拆解比亞迪(01211.HK)刀片電池,顯示電芯與電池包的成本分別約為每千瓦時136及151美元,較寧德時代(300750.SZ)的磷酸鐵鋰(LFP)電芯成本高4%,但較寧德時代NCM811電池的電芯與電池包水平低6%及14%,反映比亞迪具成本競爭力。 另外,該行認為比亞迪汽車銷量銷量快速增長、持續的技術創新和透過推出新車型而擴大價格範圍,預期公司於今年下半年及2023財年的盈利能力周期將有所改善。基於其電動車勢頭強勁,以及提高每輛車的盈利能力,該行對比亞迪的2022至2024財年收入預測上調19%至36%,純利預測升27%至53%。目標價由320元上調至345元,維持「買入」評級。
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