《大行報告》富瑞下調比亞迪(01211.HK)目標價至242元 評級「買入」
富瑞發表研究報告指,比亞迪(01211.HK)第三季業績表現強勁,收入及盈利分別達1,170億元人民幣(下同)及57億元,按年分別增長116%及350%,勝於預期。該行將比亞迪2022及2023財年的新能源汽車銷量預測上調至190萬及270萬輛,反映強勁的產能提升和良好的出口增長。該行重申集團「買入」評級,惟目標價由354元下調至242元
該行指,基於產品溢價,認為比亞迪海外銷售的利潤率可能遠高於內地銷售,又預計集團將在2023及24財年達到17萬及30萬輛的電動汽車出口銷量。該行將集團2022及23財年的盈利預測分別上調53%及26%,以反映盈利能力改善進度勝預期。
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