天能動力 (819 HK) 業績好于預期,估值低點 中國 | 汽車及零部件行業 | 公司報告 April 16, 2020 278

PSR Recommendation: BUY Status: Maintained
Target Price: HKDHKD8.51

投資概要
天能動力2019年收入和淨利分別同比增長17%和42%,唯毛利率有小幅下落。我們認爲目前市場或過度悲觀,公司目前估值位于十年低點附近,我們認爲當前對應的估值未反映公司在鉛酸電池市場的龍頭地位和業績穩定增長的預期,綜合考慮,我們調整目標價至8.51港元,維持買入評級。

About the author

Profile photo of Zhang Jing

Zhang Jing
Phillip Securities (HK)

Bachelor Degree in Tongji University of Engineering; Master Degree in East China Normal University of finance. Currently covering the automobile and air sectors. She has years of experience in investment research and is good at combining analysis for the companies with industry prospects.

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