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富瑞削吉利汽车目标价至15港元
格隆汇 07-09 09:16
格隆汇7月9日丨富瑞调低吉利汽车(0175.HK)目标价,由18.8港元降至15港元,评级维持“买入”。
富瑞称,吉利发盈警,料2019年上半年纯利下跌40%,差过市场预期的18%跌幅,同时公司亦年度调低销量目标10%,至136万辆,基于需求不明朗,富瑞认为盈警及降目标两大因素均会影响短期股价。
但富瑞强调,大部份负面因素已在股价上反映,向前看,富瑞料内地汽车市场正常,吉利在低端市场整合,毛利率因提供较少折让及较少单位折旧摊销改善,维持买入,最新目标价15港元。
富瑞调低对吉利汽车2019年盈利预测20%至101.76亿元人民币,2020年及2021年盈测亦降至115亿元人民币及134亿元人民币。
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