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招銀國際:予丘鈦科技(1478.HK)“買入”評級 目標價16.7港元
格隆匯 12-23 16:44

招銀國際報告表示,丘鈦科技(01478.HK)配股後股價回落,消化了超買壓力,估計在20天線有支持,建議“買入”,目標價16.7港元,若失守中期升軌,11.5港元止蝕。

招銀國際提到,隨着商用套餐推出,中國明年將進入5G大規模建設階段,開啟新一輪手機創新週期,5G+AI換機潮將帶動手機出貨量回升。該行分析師預計,2020及2021年出貨量同比增加0.8%及1.3%,至13.6億及13.8 億部,扭轉連跌3年的趨勢,相信鏡頭仍是手機廠商的主要升級及創新方向。丘鈦的客户主要包括華為、小米、OPPO、vivo 等國產品牌,集團本月中公佈了盈喜,預計今年盈利約5億至5.2億元人民幣,以中位數計,較市場原先預期高近兩成。

招銀國際稱,集團上週公佈配股集資作產能擴張及研發用途,發行約1.3%的新股,攤薄影響輕微,但股價回調8%,相信是吸納機會,估計集團明年盈利同比增加逾三成,預測市盈率約20倍。

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