大和:升小米(1810.HK)目標價20%至12港元 評級“優於大市”
大和發表研究報告表示,小米(1810.HK)將受惠多項利好因素,預期今年內地智能手機付運量增長有驚喜,或高於預期,而推出5G手機將可增加其市場佔有率,同時海外市場的佔有率有望進一步提升,如拓展印度及印尼市場;MIUI用户的擴展及受惠內地廣告市場復升速度快於預期,該行將小米目標價由10港元,上調20%至12港元,維持“優於大市”評級。
報告指,小米自去年11月公佈其5G新產品後,股價已累升約20%,相信其股價進一步上升的動力來自智能手機銷售改善,手機平均價格上升,以及互聯網服務業務復升,而利潤率的改善將有利今年盈利表現。基於5G時代的來臨,預期小米今年內地市場的平均售價可提升15%,並可保持10%的市場佔有率。

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