《大行报告》美银美林下调正通汽车(01728.HK)目标价至4.7元评级「买入」
美银美林发表报告,下调正通汽车(01728.HK)今明两年收入预测分别2.1%及2.7%,以反映首季销售按年下降,今明两年净利润预测相应分别下调16%及17%,基於该行同时下调对新车销售利润率的预测,目标价自5.6元下调至4.7元。下半年推出的宝马新3系车款对正通而言属正面因素,相信在库存水平维持在健康的情况下,利润率亦能回升。
由於比较基数低,料下半年盈利将录得46%按年增长;汽车融资业务增长迅速;加上现时估值吸引,该行重申正通汽车评级「买入」。
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