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《大行報告》富瑞上調比亞迪(01211.HK)目標價至331元 評級「買入」
富瑞發表報告指,比亞迪(01211.HK)第三季業績符合之前的盈利預告,期內毛利率22.1%,按季提升3.4個百分點,主要受惠產能使用率改善、鋰價下跌、以及出口貢獻增加,維持「買入」評級,目標價由263元上調至331元,以反映盈利能力較市場預期更佳。 該行指,根據渠道調查,由於折扣增加,10月份到比亞迪店舖的客戶人流及新訂單進一步改善,預期第四季銷量繼續增長,每輛車盈利保持在1.1萬元人民幣水平。公司第三季出口量7.1萬輛,按季增加1倍、按年增加3.2倍,出口佔總銷量9%,佔比較上半年的6%提升,該行相信今年出口量可達20萬輛,明年達到40萬輛。
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