《大行報告》匯豐研究上調中聯重科(01157.HK)目標價至4.7元 下調龍工(03339.HK)目標價至1.4元
匯豐研究發表研報指,2023年中國建築機械內銷仍在觸底,同時出口增長放緩,自1月份挖掘機銷售數據表明基本面疲弱,工程機械類股自2月底起累計下跌7%至20%,目前機械行業基本面未見實質性反彈信號,因此維持審慎看法,當中較看好今年營收增長可見度較高的個股。
該行指出,下游基礎設施需求保持韌性,但房地產市場需求仍然低迷,考慮到土地市場走弱及資金緊張,房地產建設的復甦可能需要更長的時間,認為來自非房地產下游的需求可以為公司今年收入增長提供更好的可見性,因此更看好中聯重科(01157.HK),因為其對國內挖掘機市場的敞口較低,而且出口業務在低基數下增長強勁,將其H股目標價由4.6元上調至4.7元,評級仍為「買入」。
該行並基於最新估值,將中國龍工(03339.HK)的目標價從1.5元下調至1.4元,評級「持有」。
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