瑞信:予丘鈦(1478.HK)“優於大市”評級 目標價13.4港元
瑞信發表研究報告表示,丘鈦(1478.HK)去年12月攝像頭模組銷量3770萬件,按年增長19%,高於該行預期,而指紋識別模組出貨量按年升25%至970萬件,則遜於預期,該行認為丘鈦主要增長動力仍然穩固,予“優於大市”評級,目標價13.4港元。
該行指,丘鈦最近股價回調主要受到市場關注華為削減產量、環球地域上的不明朗因素影響,但公司增長動力仍穩固,包括攝像頭升級週期強勁、其主要客户可持續取得市佔率及有較佳的組合,同時飛時測距(TOF)鏡頭的市場滲透率上升。此外,公司有更多潛在拓展機會,包括南韓的OEM廠,以及新收購的新鉅科技(Newmax)產能擴張,均帶來潛在上行空間。

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