智通财经APP获悉，理想汽车-W(02015)回落逾3%，截至发稿，跌3.57%，报108.2港元，成交额8.19亿港元。
招商证券国际发布研报称，予理想汽车-W“增持”评级，将目标价由154港元降至138港元。该行下调2025至2026年净利润预测各19%和16%，反映上半年短期缺乏重磅新品影响，公司2024至2027年净利润(非GAAP)预测CAGR达24.2%。报告指出，公司去年第四季业绩符合预期，毛利率承压，但费用控制得力，现金强劲。该行预计智驾版更新以及纯电车上市后产品周期走强，智驾大模型进步神速。
该行续指，2025年指引方面，公司指引是20万以上电动车市场增速2倍，首财季后给清晰指引。公司三方面提升销量，预计5月发布L系列智驾焕新版，纯电系列从七月开始下半年发布两款。同时增加4线和5线城市覆盖。另外会出海规划和布局，公司已在中亚、亚太市场取得阶段性进展，并将继续增加在拉美、中东、欧洲市场的投入。短期以平行出口为主，2026年开始大规模放量。
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