大和国六标准影响超预期降长汽(2333.HK)目标价至5.7港元
大和总研发表研究报告指,长城汽车(2333.HK)全年销售目标受压,因国六排放标准政策影响超预期及对短期市场看法审慎,并料市场需促销国五排放标准汽车,将影响长汽毛利率恢复较预期慢,将H股目标价由6.1港元下调6.56%至5.7港元,维持“持有”投资评级。
大和表示,为反映销售及毛利率受压,下调2019-2021年每股盈利预测9-23%,并下调销售量至109万至117万辆,及下调毛利率至13.1-13.7%。
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