《大行报告》汇丰研究下调小米(01810.HK)目标价至12.4元 评级「持有」
汇丰环球研究发表报告,指小米集团(01810.HK)去年纯利逊该行原预期7%,而收入和毛利符预期,主因高营运开支所致。经常性盈利升35%。
该行指,小米去年第四季智能电话均价跌6%,毛利收窄至7.8%,网上服务销售收入录41%增长,主因回报较好。
汇丰环球研究表示,小米管理层指国内智能电话销量正在复苏,3月下半月的付运量已回报至1月80-90%水平,惟海外销售仍然受压,物联网方面,小米电视的全球付运量升52%,当中有多於1,000万部是内地销售,相信海外销售增长机会,互联网服务方面虽然广告受压,但有更多附加服务正在推出。
该行表示,降小米2020至2021年纯利预期各7%及4%,目标价由12.5元降至12.4元,维「持有」评级。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.