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《大行报告》高盛降联想集团(00992.HK)评级至「中性」 下调目标价至4.3元
阿思达克 03-30 12:09
高盛发表的研究报告指,将联想集团(00992.HK)2020至2022财年每股盈测分别降4%、23%及32%,以反映环球电脑、伺服器、存储及智能手机等出货量下跌的估算,另外受竞争激烈影响,在定价及产品组合方面的估算亦趋向保守。该行认为亚洲科技市场受疫情影响,今、明两年收入下行压力增加,现时高盛对疫情发展未有取态,但总体而言估计商业环境将在第三季开始改善,但受现阶段的不确定性影响,在预测中暂未计入积压需求。

虽然该行对联想集团的基本面复苏维持正面看法,认为将受惠数据中心客户增加及智能手机聚焦高利润市场,惟由於料每股盈利增长放缓,下调估值基础,将原先2021财年预测市盈率倍数下调7%至10.7倍,目标价相应降28%至4.3元,并认为受疫情影响电脑、智能手机及伺服器/存储的出货量将减慢,而竞争增加将令定价及利润降低,而在目标价调整後,其潜在上行空间有所缩减,将公司评级由「买入」降至「中性」。

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