《大行報告》麥格理上調理想汽車(02015.HK)目標價至133.9元 評級「跑贏大市」
麥格理發表研究報告指,理想汽車(02015.HK)(LI.US)今年首季銷售額符合預期,毛利按季增長7%,按年增長77%,超出該行預測,但符合市場預期。毛利率達20.4%,較預期高117個基點,淨利潤亦超出預期,主要來自於經營開支減少。
麥格理相信市場會對首季業績作出正面反應,汽車毛利率勝預期,第二季指引亦強勁,計及首季度業績、次季指引及銷售表現,將今明兩年銷量預測上調12%及10%,收入預測提高9%及7%,並將今年毛利率預期上調70個基點,今明兩年淨利潤預測分別上調199%及16%,達到43.53億及52.39億元人民幣。
該行並將目標價從128元上調至133.9元,對應2023年市銷率約2.3倍預測不變,評級為「跑贏大市」。
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