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研報掘金丨東吳證券:維持比亞迪“買入”評級,目標價489元
格隆匯 04-07 14:43

東吳證券研報指出,比亞迪(002594.SZ)3月銷量38萬輛、同增25%、出口持續強勁。公司3月推出超級e平臺,打造10C兆瓦級閃充,大幅提升快充性能。此外,公司3月接連發布新車,包括騰勢N9/秦L EV/海獅05EV/仰望U7,搭配天神之眼智駕系統,助力後續銷量持續向上。公司25年e4.0平臺+智駕平權+dmi出海,我們預計公司銷量530-550萬輛,智駕佔比60-80%,出口翻番至80萬輛+。插混份額略降至55%、高端品牌新車持續發佈。此外,25年看,預計動力自供260GWh,外供25gwh,儲能40gwh,電池實際出貨325gwh,同增30%+。給予25年28x,目標價489元,維持“買入”評級。

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