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大行評級|美銀:上調濰柴動力目標價至17.7港元 將受益於數據中心柴油發動機需求增長
格隆匯 02-27 14:17
美銀證券發表報告,隨着內地雲服務商和互聯網巨頭在2025和2026年加大對人工智能基礎設施的投資,對數據中心備用柴油發電機的需求將顯著增加,將爲濰柴動力的大型發動機業務帶來更好的增長前景。該行對其目標價由16.4港元上調至17.7港元,評級“買入”。該行預計,2025年中國數據中心柴油發動機的需求將增長45%,並可能因產能有限而出現價格上漲和交付時間延長。作爲中國數據中心柴油發動機的主要供應商之一,濰柴將從行業需求的強勁增長中受益。該行預測濰柴大型發動機銷售額將在2025年達到43億元,按年增長增長44%,2026年達到52億元,按年增長21%,分別佔總銷售額的2%。由於數據中心柴油發動機的毛利率比傳統柴油發動機高出10個百分點以上,其強勁的銷售增長將略微提升濰柴的整體毛利率。
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