《大行報告》摩通削小鵬(XPEV.US)和蔚來(NIO.US)目標價 評級「增持」
摩根大通發表研究報告指出,電動車代工廠如蔚來(NIO.US)及小鵬(XPEV.US)(09868.HK)的股價於過去一及三個月內明顯回落,跌介乎約40%至50%,以及介乎50%至70%,相對於同期國企指數跌16%及28%。跌幅主要由於近來市場對新能源汽車的需求急速放緩,並對2023年展望的憂慮;由特斯拉(Tesla)(TSLA.US)最近減價可看到市場競爭惡化;全球加息環境下,意味著折讓率相比以往更高及估值倍數更低。
該行承認其對蔚來及小鵬的「增持」評級今年並未有反映出來,因此將其預測調整至可實現的水平,認為在一年內將獲得正面的風險回報,對蔚來美股目標價由25美元降至14美元,對小鵬美股目標價由35美元降至11美元,均維持對其「增持」評級。該行對小鵬H股目標價由140元降至42元,評級「增持」
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