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《大行報告》華與證券升理想汽車(LI.US)目標價至63.2美元 季績強勁
華與證券發表報告指,受惠於穩定的高毛利和遞延所得稅資產減值沖回影響,理想汽車(LI.US)上季業績強勁,GAAP和Non-GAAP淨利潤按年分別大增21倍和368.5%。該行指,理想3月開啟新品上市周期,今年底將形成由四款增程和四款純電車型組成的產品矩陣。上調目標價至63.2美元,重申「買入」評級。 華與證券上調理想汽車今明兩年交付量各6.7%和21%,至72.6萬和102.6萬輛,上調同期營業收入預測各6.4%及20.5%,至分別2,142.9億及2,991.9億元人民幣(下同);上調同期Non-GAAP淨利潤各10.4%、18.8%,至分別176.8億及267.8億元。 此外,該行引入2026年的業績預測,預計理想2026年交付量為142.7萬輛,營收及Non-GAAP淨利潤分別實現4,032.5億元和39.4億元,相當於按年增長34.8%及44.1%。
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