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大行評級|美銀:予吉利汽車“買入”評級 料內燃機車型及海外銷量推動盈利增長

美銀證券發表研究報吿,恢復對吉利汽車的覆蓋,給予“買入”評級,目標價為12.6港元。該行認為,吉利擁有穩固電動車型產品線,公司目標2024年汽車銷量可按年增長13%至190萬輛。美銀預期,內燃機車型及海外銷量可推動每股盈利增長,預測全年吉利汽車銷量將達到210萬輛,較指引高11%,主要來自於年內推出的九款新車型及出口銷售的帶動。

吉利目標今年新能源汽車銷量可按年增長66%至81萬輛,而出口銷量料為33萬輛。美銀表示,考慮到吉利的新車型在新國家市場都受到歡迎,預期吉利汽車今年海外銷量將達到40萬輛,較指引高出22%,出口佔總銷量比重則預期提高到19%以上。

美銀目前預測2024至2026年吉汽銷量將按年各增長25%、3%及2%,推動年度收入各按年增長31%、14%及9%,預期不斷提高的新能源汽車滲透率和穩健的出口增長將提升其平均售價和盈利能力,今年每股盈利估計將按年增長33%。

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