研報掘金丨中金:維持特斯拉目標價300美元 憧憬AI貢獻業績
中金髮表報告指,特斯拉(Tesla)首季業績低於市場預期,然而,行政總裁馬斯克計劃加大對特斯拉時間投入、維持新車週期指引,以及人工智能(AI)業務進展積極,明年下半年有望貢獻業績增長,維持目標價300美元及評級“跑贏行業”不變。中金指,馬斯克計劃在5月份很大程度上從政府效率部的角色中抽身,將更多精力投入公司治理,認爲這有望減少投資者對於馬斯克在特斯拉上投入精力過少的擔憂。另外,維持低價車型於今年上半年開始生產及明年啓動無人駕駛計程車Robotaxi量產指引,加上正積極推進印度市場等,認爲有望提振投資者對其產品週期的信心。另外,AI業務進展積極,明年下半年有望貢獻業績增長,馬斯克透露將於6月推出付費的自動駕駛共用出行服務,初期擬涉10至20輛Model Y車型,他又預測明年下半年有望實現數百萬輛自動駕駛汽車投入運營,以及認爲Robotaxi有望在明年下半年開始顯著推動業績增長。機器人方面,該集團又對2029至2030年實現年產100萬臺Optimus機器人充滿信心。中金維持特斯拉今明兩年盈利預測不變,非通用準則淨利潤分別爲116.53億美元及152.55億美元。
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