《大行報告》瑞信下調通達(00698.HK)目標價至0.8元評級「跑贏大市」
瑞信發表報告表示,通達(00698.HK)上半年純利高於該行預期18%,主因毛利和非經營收入理想,雖然期內收入下跌6%,主因智能電話市場和競爭加劇,抵銷其於三星和Vivo的市佔率上升因素。
該行表示,通達維持今年智能電話出貨量1.4億、及明年1.8億至2億出貨量預期,主因仿玻璃殼的採用增加,及公司市佔率增加,相信佔比可於今年升至出貨量的70%,及明年的75-80%,相等於50%的增長。
瑞信稱,調整通達於2019至2020年盈利預期,以反映對仿玻璃殼的前景和市佔率,但降其毛利預期,目標價由1.1元降至0.8元,維持「跑贏大市」評級。
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