《大行報告》美銀證券上調汽車之家-S(02518.HK)目標價至77元 評級「中性」
美銀證券發表報告指,由於競爭環境風險,今年汽車市場前景平平,但由於汽車之家(ATHM.US)(02518.HK)現金結餘豐富,加上估值不高,重申予「中性」評級。考慮人民幣升值,上調其兌美元預測由7.26升至6.8;盈利上行亦致該行輕微上調對其2021至2026年自由現金流年均複合增長由負8%升至負7%,以現金流貼現率計,港股目標價由71元升至77元。
美銀證券認為,汽車之家業務復甦符合預期,因此維持對去年第四季、今年首季、今次全年收入分別按年增長10%、2%、5%的預期,並預計汽車之家將努力控制成本,因此將去年第四季、今年首季、今次全年的非美國通用會計準則淨利潤預測由原先5.8億元、3.5億元、20億元人民幣,分別略微提高至6億元、4億元、21億元人民幣。
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