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《大行報告》瑞銀上調蔚來(NIO.US)目標價至15美元 評級「中性」
瑞銀發表研報指,基於投資者風險偏好改善,對蔚來(NIO.US)維持「中性」評級,指出中國新能源汽車行業競爭加劇,加上蔚來對新業務的持續投資,現有車型轉換平台需要更多時間來展示營運效率有所提升,並最終實現整體業務盈虧平衡。 該行又指,蔚來汽車現價對應明年預測市銷率約2.3倍,目前估值水平較合理地反映出今年公司盈利前景,預期近期未來出現引發重估的催化劑。 由於行業競爭加劇,瑞銀將蔚來2023至2025 年收入預測下調7%至28%,預計將錄得淨虧損180億、110億及30億元人民幣,每股虧損預測為11.03、6.82及1.53元人民幣,基於明年預測市銷率約2倍,將美股目標價調升至15美元。
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