《大行報告》大和上調吉利(00175.HK)目標價至19元 評級「買入」
大和發表報告,由於毛利率低過預期,吉利(00175.HK)2022年上半年業績令人失望,主因毛利率按年跌2.7個百分點,按季跌2.5個百分點,低於預期。不過該行預計下半年內地汽車業有刺激扶持政策出臺,推動汽車銷量,及晶片供應壓力放緩等因素,毛利率有望在下半年恢復。
該行將吉利平均售價預測上調6%至7%,以反映其增強的產品組合,與更多的STAR系列銷售和新能源汽車,因此上調2023-2024年每股盈利預測8%至8.6%,目標價相應由18元上調至19元,維持評級「買入」。不過,該行將集團2022年每股盈利預測下調18.5%,因期內毛利率預測由17%下調至16%。
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