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《大行》大和升中聯重科(01157.HK)目標價至6.6元 評級「買入」
阿思達克 05-27 11:43
大和發表研究報告指,基於中聯重科(01157.HK)強勁的海外產能,對其長期海外增長前景感到樂觀,將其目標價從6元上調10%至6.6元,重申「買入」評級。 該行認為,中聯重科今年首四個月房地產投資持續疲弱,對其傳統業務造成衝擊,預計房地產投資要到6月底才會好轉。但由於公司4月海外收入按年增長15%,混凝土機械及工程起重機收入按年增長20%至30%,土方機械增速超過50%;高空作業平台因2024年上半年基數較高,收入有所回落。管理層預計,隨著匈牙利產能爬坡等因素下,高空作業平台業務將於今年下半年有所好轉。 該行預計中聯重科2025至27年收入按年增長13%至16%,毛利率達28.4%至28.8%。
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