《大行報告》高盛首予理想汽車(02015.HK)「買入」評級 目標價206元
高盛發表報告,首次給予理想汽車(02015.HK)「買入」評級,目標價206元。該行指,公司的純電動汽車(BEV)定位具競爭力,銷售網絡擴充,將會推動新一輪增長。在規模效益及營運槓桿持續下,估計在該行覆蓋的中國汽車原設備生產商當中,理想能夠達到最快速的盈利增長,並取得最佳的自由現金流。未來的催化劑包括新型號推出、城市全場景智能駕駛(NOA)發展、以及季度業績表現。風險包括市場需求放緩及競爭加劇,對銷量、利潤率及現金流造成壓力。
該行對理想汽車2023至2025年的盈利預測,較同業平均水平高出最多18%,主要因為銷量預測亦高出2%至18%。該行認為未來兩年,理想具有最進取的新產品線及店舖擴充計劃。
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