德銀下調汽車之家(ATHM.US)目標價至42美元 評級「持有」
德銀發表研究報告,指汽車之家-S(02518.HK)(ATHM.US)第三季表現符預期,經調整盈利按年跌35%至5.83億元人民幣。受累汽車銷售收縮及競爭,媒體服務和銷售線索服務收入按年分別跌53%及9%;日均活躍用戶按年升12%,受惠持續改進的內容生態系統。
該行指,雖然傳統業務受汽車銷售轉弱所影響,但公司仍在投資新項目,如數據產品、新能源車、二手車平台(TTP)等,且均有進展,其中新能源車品牌第三季收入按年增長逾倍,總市佔率約50%。此外,二手車平台TTP進一步鞏固領導地位,平台二手車經紀量按年大升77%。
德銀又指,公司相信汽車銷售可於第四季走出谷底,並在明年上半年見改善,相信明年汽車銷售可有4%至5%增長,公司同時公布最多2億美元的股份回購計劃,相信可支持短期股價,目標價由45美元降至42美元,維持「持有」評級。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.