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大行評級|花旗:下調華晨中國目標價至3.75港元 下調今明兩年銷量及盈利預測
格隆匯 03-25 14:13

花旗發表研究報吿,預計2025年華晨寶馬的銷量和利潤率將回升,華晨中國管理層透露,去年第三季華晨寶馬有一個月生產中斷,對產能利用率產生負面影響,拖累全年銷量和利潤率表現,預期在成本控制措施下,今年銷量和利潤率將按年改善。

該行認為,華晨寶馬盈利能力或較預期更具韌性,對華晨維持“買入”評級,計及市場競爭及年初至今不斷擴大的零售折扣趨勢,將華晨寶馬今明兩年銷量預測下調5%至6%至57.7萬及54.1萬輛,淨利潤率預測下調0.2個百分點至6.8%及6.6%。花旗亦將華晨中國今明兩年淨利潤預測下調15%及11%至29億及27億元,目標價從4.31港元下調至3.75港元。

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