《大行報告》星展降理想汽車(02015.HK)目標價至170元 今年為開發BEV和ADAS系統關鍵一年
星展發表研究報告指,今年將是理想-W(02015.HK)全面轉向純電動車(BEV)及先進駕駛輔助系統(ADAS)技術領域的關鍵一年,指出理想在增程電動汽車(EREV)領域一直處於領先地位,相信會為盈利貢獻較大部分。
隨著其他新能源汽車同行紛紛推出具有競爭力的產品,該行預計理想汽車今年汽車業務利潤率會達約20%,低於去年第三季的22%高位。為應對競爭日益激烈的行業格局,理想管理層已制定今年180億元人民幣的研發預算,將用於開發BEV、電池和ADAS系統,反映出該公司實現長期願景的決心。
星展預測理想汽車2024年銷量將按年增長約60%達到約60萬輛,經調整淨利潤料增長約46%,維持「買入」評級,H股目標價由224元下調至170元。
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