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大行評級|瑞銀:上調小鵬汽車目標價至8.8美元 明年銷量預測升至30萬輛

瑞銀研究報吿指,小鵬汽車自9月以來股價已上升逾50%,因新推出的MONA M03及P7+初始訂單及每月交付量勝預期,儘管該行對他團電動車勢頭及成本快速優化感興奮,但認為股價上升幅度已反映在目前股價中,而下行風險尚未反映,不過考慮到明年銷量預測升19%至30萬輛,因此將其目標價由8.2美元升至8.8美元,評級由“中性”降至“沽售”。

該行提到,對公司的M03及P7+每月的1萬輛交付量之持續性存疑,對於明年上半年大眾電動車的走勢保持審慎態度。另外,瑞銀亦指,儘管認為增程型電動車(EREV)產品可擴大公司總市場,但對公司EREV產品管道的可見度仍然有限。而EREV車型是否能幫助小鵬擴大規模並縮小經營虧損,仍然取決於對目標消費者的理解、公司執行策略和EREV品牌認知。

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