《大行報告》匯豐研究降比亞迪(01211.HK)目標價至332元 上季盈利略遜
匯豐研究發表報告指,比亞迪(01211.HK)近期股價調整,相信因為去年第四季盈利略較預期疲弱,市場憂慮上月的電動車銷情,價格競爭加劇,以及庫存水平上升。該行將2023年、2024年及2025年的盈利預測,分別下調6%、13%及20%,以反映下調銷量預測及價格壓力。比亞迪現價相當於預測未來12個月市盈率13倍,在其盈利具能見度下,估值對比同業吸引。
報告指,比亞迪的增長途徑仍然清晰,第一季受農曆新年等季節性因素影響,銷量較為波動,但相信第二季有改善,受出口增長,以及新產品亦附帶更多自動駕駛功能所帶動。該行將其H股目標價由356元下調至332元,維持「買入」評級。
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