《大行報告》瑞銀升ASM太平洋(00522.HK)評級至「中性」 目標價75元
瑞銀發表研究報告指,受到新型肺炎疫情影響,認為對整體供應和需求都有影響,雖然隨著目前內地逐步復工,但對需求端看法仍然保守,降ASM太平洋(00522.HK)2020年收入預期2%,毛利由35.2%升至35.5%。公司股價於2月尾起已跌20%,相信產能和需求影響已大部份反映,評級由「沽售」升至「中性」,目標價75元不變。
該行指,公司有一半的產能來自中國,故相信停工將影響生產和利潤,公司目前的產能恢復略較預期快,相信第二季仍有些影響,但最壞情況已過。
該行又指,在後工序業務方面,內地客戶亦延後產能和資本開支;SMT業務方面,此前對蘋果公司訂單和技術預期期望太高;目前仍未反映的是全球汽車業的下行風險,故進一步輕微下調收入預期。
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