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大行評級 | 大和:升小鵬(9868.HK)目標至231港元 重申買入評級
格隆匯 11-26 14:37
格隆匯11月26日丨大和發研報指,小鵬汽車(9868.HK)第三季新車毛利率按季改善2.6個百分點至13.6%,按年改善10.6個百分點,主要受交付量按年升1.99倍及小鵬P7銷量上升所帶動。該行重申其“買入”評級,目標價由209港元上調10.53%至231港元。該行將其明年新車交付量預測由9萬台上調逾1倍至18.5萬台,上調2021-22年收入預測6-10%。該行預期,小鵬2022年新車毛利率可達21%,因更高產能利用率及更多來自XPILOT的收入。小鵬計劃自12月起每月交付1.5萬台新車,該行認為,每月平均交付1.5萬台新車將可在明年持續,當中其新SUB型號G9將在明年第三季開始交付。該股現報208港元,總市值億港元。

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