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里昂维持通达(0698.HK)“买入”评级目标价0.85港元
格隆汇 08-22 14:15
里昂发表报告指,通达集团(0698.HK) 上半年纯利按年跌24.6%,符预期,产品自金属外壳转型至玻璃外壳影响业务表现,但相信随着下半年销售量强劲增长,料部分抵销三防产品(防水防摔抗震)销售预测下调的影响。通达亦将持续投入研发,以为5G作准备并提供长期增长潜力。
报告称,通达近期盈利虽具有不确定因素,相信已于目前的低估值反映,现价仅相当于今年预测市盈率5.3倍。该行维持其“ 买入 ”评级,为反映销售及毛利率预测下调,降今年盈测20.7%,并降2020年及2021年盈测分别16.2%及14.4%,目标价相应自1港元下调至0.85港元,此维持以2020至2021年平均预测市盈率6倍作估值。
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