《大行報告》摩通下調小鵬-W(09868.HK)目標價至64元 上季盈利遠遜預期
摩根大通發表報告指,小鵬-W(09868.HK)第二季盈利遠遜該行及市場預期,主要是由於車輛利潤率不理想。報告引述集團管理層下調投資者期望,料毛利率或至今年第四季才轉正。該行認為,消息令市場感到意外,而且是一個重大的下行因素。雖然公司與大眾汽車的戰略合作夥伴關係是一個明顯的積極長期發展,但過去兩周的回調意味著市場會把焦點轉向公司下半年的盈利能力。
該行表示,繼續對中國汽車及電動汽車市場持審慎看法,但相信比亞迪(01211.HK)可以通過其高端品牌產品組合、出口業務和混合動力汽車的主導地位相對更好地緩解不利因素。該行將小鵬H股目標價由71元下調64元,評級「中性」。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.