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《大行報告》大摩升美東汽車(01268.HK)目標價至27元 降永達(03669.HK)目標價至10元
阿思達克 08-11 10:16
摩根士丹利發表報告指,雖然新車市場放緩,但預期售後服務板塊收入在2020至2025年維持在7%的年複合增長率,特別是豪華車品牌經銷商,維持其售後服務的主導地位。該行指,相信中國的售後服務的增長會快於新車銷售,因受到車輛數目增長,車輛老齡化等影響。

大摩指,豪車品牌經銷商,如中升(00881.HK)和美東(01268.HK)會繼續主導市場,因客戶的忠誠度,以及售後保養的延長等。該行調對美東汽車(01268.HK)目標價,由25元升至27元,維持「增持」評級;該行下調永達汽車(03669.HK)目標價,由12元降至10元,維持「增持」評級;並將正通汽車(01728.HK)目標價由1.3元降至1.1元,維持「與大市同步」評級。

該行表示,看好豪車經銷商受惠售後服務增長,不過獨立經銷商亦受惠電商發展和物流改善,故相估市佔率亦會有增長。

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