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大行評級|中銀國際:汽車股中看好小米、吉利汽車及蔚來 均予“買入”評級

中銀國際研究報吿指,港股整體汽車股股價年初至今仍落後於各基本面指標,認為兩者的差別主要是因為市場對宏觀市場及汽車行業的悲觀情緒。該行指,踏入今年第四季,亦是傳統汽車旺季,料在擁有強勁產品週期,而且估值處於歷史低位的代工廠商帶動下,整體行業估值會大幅反彈。該行看好小米、吉利汽車及蔚來。

該行重申對小米“買入”評級,指10月下旬推出新產品將會是下一個催化劑,料SU7的每月交付量會在第四季突破2萬輛,以及2025年初為下一個電動車產品而推出的推廣活動。該行亦予吉利“買入”評級,料市場上調盈利預測有助帶動其估值復甦,短期催化劑包括市場對下半年旗艦車型的反應以及集團層面上持續的經營整合。至於蔚來,受較強的新產品週期帶動,有出現有意義的虧損受窄及現金流改善,維持“買入”評級及目標價9美元。此外,該行維持比亞迪“買入”評級及目標價265港元。

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