大行评级丨招商证券国际：继续看好龙头车企配置价值，推荐吉利汽车、比亚迪和小鹏汽车

Group 1 - The core viewpoint of the report is that the pessimistic expectations for the automotive sector have been fully released, and valuations remain at relatively low historical levels [1] - The report highlights the positive outlook for leading automotive companies driven by the new vehicle cycle and the push for smart technology [1] - Recommended stocks include Geely Automobile (target price of 32 HKD, rating "Buy"), BYD, and Xpeng Motors, while also noting short-term trading opportunities for NIO [1]