大行評級|大摩:下調特斯拉目標價至410美元 下調首季及全年銷量預測
摩根士丹利下調特斯拉首季銷量預測,由41.5萬輛降至35.1萬輛,即按年跌9.3%;全年銷量預測由192.4萬輛降至161.5萬輛,即按年跌9.8%。
該行亦下調公司今年收入預測,由1051億美元降至945億美元,幾乎完全由核心汽車收入減少所驅動;明年收入預測亦由1248億美元降至1134億美元。現財年不含稅收抵免汽車毛利率預測由15.9%降至14.4%,主要由銷量減少、關稅及通脹所推動,部分被價格、產品組合及新車上市成本影響減少抵消;明年該毛利率預測亦由16.2%下調至15%。今明兩年每股盈利預測分別由2.7及3.5美元,下調至2.18及3.05美元。
該行維持對特斯拉“增持”評級並續列爲首選股,目標價由430美元降至410美元。該行認爲,特斯拉疲軟的汽車交付量,表明公司正從純粹汽車製造商轉型爲人工智能和機器人領域的高度多元參與者。
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