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研報掘金|招商證券:市場低估智駕大潮對小鵬汽車的催化效應 維持目標價92港元
格隆匯 02-21 15:43

招商證券發表報告指,小鵬汽車苦盡甘來,市場低估智駕大潮對小鵬的催化效應,一致預期或持續上調。小鵬經歷兩年內部變革後,體系成熟度深化,體現在新品成功率提高,產品週期更長且更穩定,銷量爆發及盈利改善雙擊將提升估值水平。當前公司仍有較大預期差,爲行業首選之一,維持對其目標價92港元,評級“增持”。

招商證券預計,小鵬本輪產品強週期會持續兩年,第一季推改款G6與G9,第二季上新款G7和Mona 03MAX,第三季發P7,第四季增程車上市,明年全部車型均推出增程版。銷量快速攀升令公司年內可實現季度盈虧平衡。

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