《大行報告》中金降瑞聲(02018.HK)評級至「中性」 目標價下調至35元
中金發表研究報告,指瑞聲(02018.HK)在昨日(8日)發布盈警,預期受疫情影響,其首季盈利按年下跌85至90%,低於市場預期。市場主要憂慮的是其現有業務的毛利率下跌,尤其是聲學及觸控產品,意味市場競爭加劇。
該行指,仍喜歡公司在光學領域上的長期增長潛力,但相信其季度業績會因為競爭加刻及全球智能手機需求疫弱而有所波動,將公司2020及2021年度的毛利率預測分別下調2.4個百分點及2.5個百分點,每股盈利預測則分別下調至1.37及1.96元人民幣,並將公司的投資評級下調至「中性」,最新目標價下調35%至35元。
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