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《大行報告》大和微降比亞迪(01211.HK)目標價至326元 評級「買入」
大和發表報告指,巴郡(BRK.A.US)持續減持比亞迪(01211.HK)股權事宜,仍然是一個懸念,但或會被市場情緒復甦而抵銷,並預料比亞迪或會成爲全球新能源汽車的領導者,捉緊新興的商業機會。 該行表示,除了新能源汽車外,公司電動車電池業務亦獲得更多來自第三方的訂單,包括特斯拉(TSLA.US)及豐田,該行預料,更多全球原始設備製造商的標準模型上使用LFP電池,以致除了公司內部銷量強勁之外,亦會有更多收入增長的機會。 由於新能源車補貼明年起取消,該行料比亞迪每輛汽車經營利潤由今年下半年料1.27萬元人民幣,收窄至明年料每輛1.05萬元人民幣,並將公司在2022至2024年每股盈測下調2%至15%,同時將其H股目標價由328元輕微下調至326元,重申其評級爲「買入」,指其長期基本面穩固,在市場情緒復甦下有望獲估值重評。
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