大行評級|花旗:上調東風集團目標價至6港元 與小米潛在合作及股息等成催化劑
花旗發表研究報吿指,考慮到與小米潛在合作及股息等成催化劑,將東風集團的目標價由3.89港元升至6港元,相當於預測明年市賬率0.32倍,較過去三年均值高出一個標準差,評級“買入”。
該行將今年至2026年各年銷售預測上調4%到5%,分別至188萬、180萬及176萬輛,這調整是基於今年首十個月的銷售走勢。該行下調同期合營企業的投資收入預測分別至15.7億元、7.1億元以及6.9億元;亦將虧損預測由原先各33.4億元、31.6億元及22.3億元,調整至分別盈利7.5億元、虧損25.8億元及虧損24.6億元。該行亦因較好的規模經濟及成本減省而上調了毛利率預測。該行稱,今次調整公司估值主要因為三個因素,股息貼現、東風旗下高級電動車品牌嵐圖的估值,以及與小米的潛在合作。
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