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大行評級|大摩:予廣汽集團目標價8.3港元 評級“增持”
摩根士丹利發表研究報吿,予廣汽集團目標價8.3港元,評級為“增持”。報吿指,集團2023年8月銷量19.7萬輛,同比下降10%,主要是由於合資企業銷售疲軟所致。廣汽豐田在2022年8月高基數的基礎上同比下降17%,廣汽本田面臨更嚴峻的壓力,同比下降40%減少。該行認為廣汽豐田可能無法實現其已下調的全年72萬輛銷量目標(2023年首8個月為37.4萬輛)。惟大摩指,廣汽合資銷售的低迷被穩定的自有品牌所部分抵消。由於埃安在過去2-3個月實現盈利,而傳祺今年利潤繼續改善,大摩預計廣汽本土品牌的規模效益將有助於抵消合資企業利潤放緩的影響。
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