《大行报告》野村下调瑞声(02018.HK)评级至「中性」削目标价至47.8元
野村发表报告表示,将瑞声科技(02018.HK)的投资评级,由原来的「买入」下调至「中性」,目标价由51元调低至47.8元,此相当2019年下半年至2020年上半年综合市盈率17倍。
该行表示,对瑞声科技2019财年至2020财年盈利预测分别下调9%及8%,因为看到中美贸易局势紧张以及对华为的禁令,令内地智能手机客户的增长动力较预期疲弱;而在淡季期间,该行对於公司旗下美国客户的声学及触控元件的定价压力或高於预期。
野村称,继续看好瑞声在新业务及产品升级方面的努力,但考虑到目前宏观环境具不确定性,公司或需要更长时间才能够复苏。
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