《大行報告》摩通下調長汽(02333.HK)目標價至9元 評級「中性」
摩根大通發表研究報告指,長汽(02333.HK)第三季業績勝於該行預期約52%和市場預期的37%,主要是由於利潤率擴張和通過更好的銷售組合提高平均售價。該行調整了集團的盈利預測,維持AH股「中性」評級,港股目標價由10.5元降至9元。行業中較看好比亞迪(01211.HK)和廣汽(02238.HK),其次是蔚來(09866.HK)(NIO.US)。
該行提到,長汽重申其到2025年的長期交付目標為400萬輛。惟該行注意到,這個長期目標是在一年前設定的,當時內地及海外的汽車市場與今天並不相同,並預計集團今年不太可能實現其年度目標。另外,該行考慮到目前的全球市場環境,海外市場如歐盟或東盟市場提供了長期機遇的同時,亦可能在短期內為集團帶來營運挑戰,對於集團目標到2025年出口達100萬輛,該行對此抱持謹慎樂觀態度。(sl/k)
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