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《大行報告》摩通降小鵬(09868.HK)、永達(03669.HK)及中升(00881.HK)評級 調整車股目標價
摩通發表報告指,今年以來內地汽車股集體大升21%,不過升幅主要集中在特定的新能源汽車領域。比亞迪(01211.HK)、理想汽車(02015.HK)、小鵬汽車(09868.HK)和零跑汽車(09863.HK)表現強勁,而其他公司則表現不佳或下滑,尤其是汽車經銷商。 對於今年下半年,摩通認為盈利能見度較高的車廠將繼續表現出色,例如比亞迪,因其在插電式混合動力(PHEV)汽車細分市場具有領先地位、加上快速增長的出口業務和騰勢(Denza)較好的銷售組合;而仍在努力實現收支平衡的初創企業的表現可能會出現停滯甚至修正,如小鵬汽車和零跑汽車。 至於其他企業,包括吉利汽車(00175.HK)、長城汽車(02333.HK)和合資國企,摩通指對這些車企盈利或股票表現不抱有希望。 該行對小鵬汽車評級由「中性」降至「減持」,目標價由29元升至40元。並將永達(03669.HK)及中升(00881.HK)評級由「增持」下調至「中性」,目標價由7.5元和52元,分別降至3.5元和28元。另外,該行對長城汽車目標價亦由9元降至8元。零跑汽車目標價則由32元升至38元。
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