《大行報告》摩通升長汽(02333.HK)評級至「增持」 目標價上調至16元
摩根大通發表報告指,長城汽車(02333.HK)第三季業績出乎意料地勝於該行預期,即使面對行業激烈的競爭,令同業盈利遜預期或其後表現疲軟,季內長汽毛利率仍顯着擴張。
該行表示,長汽首九個月出口量達20.5萬輛汽車,佔總銷量的24%,並料公司明年出口數量或達45萬輛,明年出口對總銷量佔比或擴至27%。該行認爲,考慮內地業務競爭激烈,出口業務帶來較高利潤率,或是長期上行空間動力來源,亦可爲盈利提供下行保護。
摩通將長汽今明兩年盈測分別大幅上調48%及46%,並將其H股目標價由9元大幅上調16元,其H股評級由「中性」升至「增持」。
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