大摩:下调中国中车目标价至5.5港元 维持“增持”评级

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17 Apr
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  摩根士丹利发布研报称,下调中国中车(01766)目标价8.3%,从6港元降至5.5港元,维持“增持”评级。大摩对该公司2025-2026年收入预测大体不变,毛利率预测下调1.9-2个百分点,考虑2024年的数据,对该公司2025年纯利预测下调10%,2026年下调12%,同时引入2027年预测。对该公司的基本假设认为,2024-2026年动车组(MU)整体销量为约700台,而2021-2023年为420台,增长60%以上。

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