《大行報告》野村下調華晨(01114.HK)目標價至8.8元評級「中性」
野村報告指華晨(01114.HK)上半年盈利按年下跌9%至32.3億元人民幣,其與寶馬的合營公司貢獻盈利35.52億元人民幣,符合該行預期。合營公司的收入按年增長25.6%,經營利潤率15.6%,純利率11.6%,均大致符合該行預期。管理層維持全年銷售增長目標最少15%,與該行預期的16%相若。
為了反映銷售及行政開支的輕微變化,該行將公司2019至2021財年的每股盈利預測作出少於1%的調整。該行將公司的目標價由原來的10.2元下調至8.8元,維持「中性」投資評級。
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