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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
格隆匯 06-03 14:21

東方證券研報指出,上汽集團(600104.SH)批發銷量維持同比增長態勢,終端銷量超出批發銷量。5月整體批發銷量36.60萬輛,同比增長10.2%,環比下降2.8%,2025年連續5個月實現單月銷量同比增長;5月終端交付38.9萬輛,同環比均實現10%以上增長,終端銷量較批發銷量高出2.3萬輛。上汽乘用車銷量及海外銷量同比回暖,新能源銷量同比高增長。合資品牌銷量環比回暖,上汽通用銷量持續改善。維持可比公司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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