摩通:降创科(0669.HK)目标价至73港元 维持“增持”评级
摩根大通发表报告指,将创科(0669.HK)
目标价由76港元降至73港元,反映2020年预测市盈率22倍,维持“
增持
”评级。该行认为,创科是最大的电动工具制造商之一,而北美收益占去年度比例达77%。该行称,创科于2010至2018年度之收入年复合增长率为10%(相对于美国国内设备私人投资总额增长8%),以及每股盈利年复合增长率达25%,且毛利率亦按年有所扩张。
摩根大通预期,创科2019至2021年每股盈利每年升13%至16%,而收益亦每年升10%至13%,不过2019及2020年每股盈利预测则分别由0.35及0.43美元,下调至0.34及0.39美元。
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