《大行報告》美銀證券微升比亞迪(01211.HK)目標價至433元 評級「買入」
美銀證券發表報告指,比亞迪(01211.HK)第三季業績符合之前的盈利預告,扣除比亞迪電子(00285.HK)的盈利部分,該行估計比亞迪非消費電子業務的盈利按年上升77%,至94億元人民幣,經調整後每輛車純利約1.18萬元人民幣,按年升4%,按季升27%,主要受惠規模效益、供應鏈成本控制、原材料及電池價格下跌,不過部分有利因素,被折扣及低價產品貢獻增加所抵銷。
該行因應比亞迪第三季業績,將2024及2025年的銷售額預測下調1%,毛利率預測維持不變,純利預測上調1%,目標價由431元上調至433元,維持「買入」評級,以反映電動車銷售增長,以及自家供應電池受惠鋰價下跌。
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