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《大行》中金維持蔚來(09866.HK)「跑贏行業」評級 首季業績符預期
阿思達克 06-06 11:08
中金發表研究報告指,蔚來-SW(09866.HK)(NIO.US)首季業績符合市場及該行預期,管理層給予次季汽車交付量為介乎7.2萬至7.5萬輛。憧憬今年將有更多款新車型交付,包括ET9、螢火蟲首款車型以及樂道兩款全新SUV等,中金相信將帶來增量貢獻,同時集團架構改革漸見成效,費用比率指引持續改善,組織效率正在提升。 蔚來目標今年全年實現正向自由現金流,中金維持對其「跑贏行業」評級,但考慮到市場競爭加劇,將港股及美股目標價均下調15%,分別至至41港元及5.3美元,對應2025年預測市銷率約0.9倍。
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