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《大行报告》瑞银升ASM太平洋(00522.HK)评级至「中性」 目标价75元
阿思达克 03-26 10:14
瑞银发表研究报告指,受到新型肺炎疫情影响,认为对整体供应和需求都有影响,虽然随着目前内地逐步复工,但对需求端看法仍然保守,降ASM太平洋(00522.HK)2020年收入预期2%,毛利由35.2%升至35.5%。公司股价於2月尾起已跌20%,相信产能和需求影响已大部份反映,评级由「沽售」升至「中性」,目标价75元不变。

该行指,公司有一半的产能来自中国,故相信停工将影响生产和利润,公司目前的产能恢复略较预期快,相信第二季仍有些影响,但最坏情况已过。

该行又指,在後工序业务方面,内地客户亦延後产能和资本开支;SMT业务方面,此前对苹果公司订单和技术预期期望太高;目前仍未反映的是全球汽车业的下行风险,故进一步轻微下调收入预期。

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