野村:上調舜宇(2382.HK)目標價至150港元 內地手機出貨量復甦
野村發表研究報告預測,自2月底起,內地手機需求將會顯著復甦,雖然高端手機恢復速度較慢,但估計內地整體手機表現可望大為改善,因此將舜宇科技(2382.HK)目標價由原來的100港元大幅上調至150港元,維持“買入”評級,並將其2019及2020年的盈利預測分別上調4%及調低2%。
報告指出,由於華為仍佔舜宇科技攝像模組出貨量約50%,並考慮到新冠肺炎疫情之影響,野村將舜宇攝像模組出貨量增長預測調低至20%以下,舜宇科技手機攝像模組毛利率於去年下半年已上升至高單位數,估計今年上半年毛利率會略為回落。
野村又將舜宇科技的手機鏡頭出貨量預測調低,由於韓國三星是舜宇科技手機鏡頭最大買家,相信疫情對有關業務的影響將少於攝像模組,再者,舜宇正增加6P╱7P手機鏡頭產品組合,這將有助提高公司的平均售價,預計舜宇科技今年會擴大手機鏡頭之產能。

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