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研報掘金丨國投證券:維持長城汽車“買入-A”評級,目標價32.79元

國投證券研報指出,長城汽車6月銷量符合預期,其中國內銷售7.1萬臺、同比+18%、環比+4%,預計主要系坦克300、高山8/9、猛龍燃油版交付加速貢獻增量;新能源批發銷量3.6萬臺、同比+39%、環比+12%,國內乘用車新能源滲透率預計已達到55%以上。公司精細化打磨產品、全渠道精準營銷、鋪設直營渠道賦能品牌,全新藍山、高山等已取得初步成功,後續仍有哈弗、魏牌多款新車即將上市,公司國內主流新能源市場銷量有望迎來向上拐點。公司品類(皮卡、坦克)、動力類型(HEV、柴油等)儲備豐富,產品力強,預計隨着後續新車型以及各種動力類型的導入及放量,本地化產銷進程加快,月銷有望持續向上。維持6 個月目標價32.79元/股,維持“買入-A”評級。

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