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大行評級|美銀:下調廣汽H股目標價至3.6港元 下調2024至26財年每股盈測
格隆匯 05-17 15:02

美銀證券發表研究報吿指,廣汽旗下日系品牌於內地的業績疲弱,相關品牌的市佔率於2024財年首四個月下降至13%。當中,廣汽豐田及廣汽本田同期的銷量,分別較去年同期下跌19%及30%。該行表示,內地本土汽車品牌價格戰持續,廣汽豐田及廣汽本田的價格折扣於近兩年間不斷擴大,並預計其合資企業利潤萎縮的趨勢,將於2024至2025財年持續。美銀證券亦指,內地打車市場日趨飽和,比亞迪及小鵬汽車旗下Mona等新品牌亦陸續加入汽車市場,加劇了內地市場的競爭。上述情況除了導致廣汽旗下埃安品牌,於2024年度首四個月銷量按年跌41%,亦令其增長前景預計會出現放緩。

另外,基於廣汽的投資收益減少,該行將其2024至2026財年的每股盈利預測,分別下調8%、12%及10%。累及上述因素,美銀證券將廣汽H股目標價由3.9港元下調至3.6港元,同時將評級由“買入”下調至“中性”。

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