大行評級|德銀:上調零跑汽車目標價至50港元 上調今年收入預測
德銀髮表研報指,零跑汽車2024財年第四季錄得淨利潤8100萬元,為公司成立以來首次錄得正面的季度淨利潤,主要由於其毛利率的改善,按季上升5個百分點,按年上升6.5個百分點至13.3%。零跑管理層指,目標今年銷量介乎50萬至60萬輛(即按年增長70%至104%),其中包括約5萬至6萬輛海外銷量,相對2024年約1.2萬輛。
該行預計,零跑今年銷量為55萬輛(即按年增長87%),其中C系列產品佔33.5萬輛、B系列產品佔11.5萬輛,以及T03佔10萬輛。德銀表示,考慮到零跑今年銷量指引高於預期,決定將其收入預測上調12%,H股目標價格由49港元上調至50港元,給予“買入”評級。
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