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一文綜合大行於吉利(00175.HK)公布業績後最新評級、目標價及觀點
阿思達克 08-19 11:07
吉利汽車(00175.HK)今早股價上揚,盤中曾高見28元一度升6.7%,新報26.9元升2.5%,公司維持今年153萬部之銷售目標,並計劃至2025年銷售目標達365萬部,券商普遍對此予正面看法,但關注芯片短缺壓力。吉利昨中午公布今年中期業績,營業額450.32億元人民幣按年升22.3%,純利23.81億人民幣按年升3.7%,符本網綜合市場預期介乎23億至36.66億元人民幣之下限;每股盈利23.6分人民幣。不派息。上半年之毛利率相對穩定,原因為產品組合提升大幅抵銷原材料成本增加的影響。 吉利上半年銷量為63.02萬部,按年增19%,平均出廠銷售價格上升6%。集團繼續維持今年153萬部之銷售目標(按年增長16%),但因近期芯片短缺問題日益嚴重,且「2019冠狀病毒」個案再度於全球出現上升趨勢,對未來數月的銷售表現構成重大威脅,繼而減低達成目標的機會。吉利相信原材料價格上漲影響將於今年餘下時間逐漸消散,惟芯片短缺會於期內持續造成影響,指將更多具競爭力的新車型將推出,集團於今年下半年可望有更好表現。 【維持銷售目標 關注成本壓力】 大和表示,吉利中期業績鞏固,雖然面對成本壓力,但毛利率按半年有提升,公司仍維持今年銷售目標,維持對其「持有」評,上調對其目標價由22元升至24元,此相當預測市盈率26倍。野村指,吉利上半年業績可確認對其今年下半年正面的看法,料今年下半年可望復甦,公司在挑戰環境下仍維持今年銷售目標,重申對其「買入」評級及目標價30.2元。 建銀國際指,吉利中期業績符預期,料短期毛利率承壓,因估計新能源汽車銷售佔比會有所提升,並相信芯片短缺難以至今年第三季中之前獲得解決,決定下調對其今明兩年純利預測各4%及18%,反映推新車型令成本上升、原材料價格上漲等。該行下調吉利目標價由33.5元降至31.7元,維持「跑贏大市」評級。 ----------------------------------------- 本網最新綜合10間券商對其投資評級及目標價: 券商│投資評級│目標價(港元) 花旗│買入│52.25元 摩根大通│增持│46元 建銀國際│跑贏大市│33.5->31.7元 光大証券│買入│30.93元 野村│買入│30.2元 中銀國際│持有│23->27元 瑞信│中性│26元 瑞銀│中性│24元 大和│持有│22->24元 摩根士丹利│減持│13元 券商│觀點 花旗│上半年核心盈利、收入均勝預期 摩根大通│2025年銷售目標365萬部非常具野心 建銀國際│上半年業績符預期,業務整合進行中 光大証券│中期業績符預期,極氪估值撬動前景仍可期 野村│利潤率穩定因次季產品組合改善及產量正常化 中銀國際│2025年銷售目標具野心 瑞信│上半年業績符預期,2025年銷量目標365萬輛具催化作用 瑞銀│市場或下調對其盈利預測 大和│毛利率按季上升,關注2025年進取銷售目標 摩根士丹利│上半年業績增長穩定
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