中金:上調敏華控股(1999.HK)目標價至7港元 評級“優於大市”
中金公司發表研究報告指,隨着敏華控股(1999.HK)把美國業務逐步轉移至越南,關税對公司利潤的影響將逐步消除,盈利能力將持續改善。中金早前把敏華目標價上調17%至7港元,維持“優於大市”投資評級。
中金表示,敏華在2020年中旬,公司有望把80%-90%對美出口業務轉移至越南。內銷方面,中金指敏華正加速搶佔市場佔有率,料2020上半財年公司在中國的市場收入佔比首次超過50%。
中金預期,內銷收入增速將保持在20%以上,內銷收入增速、淨利率高於外銷,能帶動利潤率提升。

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