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研報掘金丨東方證券:維持上汽集團“買入”評級,目標價23.75元

東方證券研報指出,上汽集團(600104.SH)1季度盈利好於市場預期。公司2025年力爭實現營業總收入超過6740億元,同比增長7.4%,營業成本在6000 億元左右。2025年公司將推動“新合資”模式落地,加強自主技術賦能及股東方優勢資源共享,推進AUDI品牌首款產品、上汽奧迪A5L、別克和凱迪拉克新能源車型等上市,力爭實現穩銷量、穩份額、穩盈利的年度目標。2025年公司將繼續推進全面深化改革,深化與華爲在產品聯合開發、用戶運營、整車新零售等方面的全方位合作,推動“尚界”品牌首款車型於年內上市。可比公司25年PE平均估值25倍,目標價23.75元,維持“買入”評級。

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