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《大行報告》美銀證券輕微下調中聯重科(01157.HK)目標價至2.6元 評級「中性」
美銀發表研究報告指,中聯重科(01157.HK)管理層對業務作出指引,由於持續的成本降低,預計2023年本地及海外毛利率分別達到25%及35%。管理層預計,明年海外市場增長將因應2022年的高基數而保持穩定。第三季海外市場貢獻的收入為26億元人民幣,按年增長73%,佔總銷售額的28%。管理層預計,集團明年將繼續在海外市場擴張。 該行將集團2022至24年的每股盈測分別下調5%、3%、及4%,以考慮到低於預期的第三季業績及由於年終結算部分費用可能導致第四季的淨利潤率惡化,而在行業復甦緩慢的情況下,預計2022年第四季的銷售和毛利率將略有改善。該行將集團H股目標價由2.7港元下調至2.6港元,A股則由4.1元人民幣下調至3.9元人民幣。重申對公司H股的「中性」評級。
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