《大行報告》瑞銀上調耐世特(01316.HK)目標價至5.5元 評級「中性」
瑞銀發表報告指,自去年11月以來,耐世特(01316.HK)股價累計上漲約20%,可能是由於其宣布了市場期待已久的內地齒條式電動助力轉向系統(REPS)訂單進展。不過,該行認為內地業務的潛在上升空間,不足以完全抵銷全球汽車行業前景疲軟和成本上漲帶來的近期阻力,預計耐世特的淨利潤要在2025年才能恢復至疫情前水平,而市場預計為2024年。
該行對公司去年盈利預測下調41%,以反映比預期更慢的原材料價格下跌速度,並將今明兩年盈利預測上調1至3%,以反映內地REPS訂單啟動和全球汽車銷售疲軟的綜合影響。目標價相應由4.4元提高到5.5元,評級「中性」。
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