《大行報告》富瑞上調比亞迪(01211.HK)目標價至262元 評級「買入」
富瑞發表研究報告,比亞迪(01211.HK)去年第四季新能源汽車銷售增長強勁,加上規模效應,帶動期內純利按年增長逾11倍。
管理層表明有信心今年實現國內銷量300萬輛,雖然面對市場競爭加劇及價格戰,客戶普遍採取觀望態度,但3月份新能源汽車滲透率仍持續上升至35%,比亞迪則預計今年中國新能源汽車滲透率可提升到40%至45%,每月滲透率可能升至 50%以上,因此預計2023年新能源汽車總銷量將達到850萬至900萬輛。
富瑞相應將比亞迪2023至2024年銷量預測上調至330萬及450萬輛,以反映國內和出口銷售潛力強勁,並將今明兩年盈利預測上調12%及16%,目標價由242元升至262元,重申「買入」評級,認爲比亞迪是行業長期贏家。
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