高盛:首予京信通信(2342.HK)“买入”评级 目标价2.5港元
高盛发表研究报告表示,在新的5G资本支出周期的推动下,京信通信(2342.HK)凭借其稳固的市场地位和雄厚的技术能力,正处于盈利反弹的转折点。预计2019-2021年度的净收入为1400万至6100万美元(约1.11亿至4.72亿港元),复合年增长率为106%。该行首予京信通信“买入”评级,12个月目标价为2.5港元。
该行指,京信通信的5G天线和小基站业务盈利反弹,2017年京信占据13%的出货份额,是仅次于华为(30%以上)的全球第二大天线制造商,是小基站领域的先行者,预测中国的天线需求将在2019-2025年之后将超过130亿美元(920亿元人民币),是2012-18年市场的1.8倍。此外,大规模部署小基站预计将在2019-2025年为中国创造120亿美元(840亿人民币)的小基站市场,以支持室内和室外的覆盖连续性和连接质量。
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