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《大行報告》大和下調福耀玻璃(03606.HK)目標價至19.11元 評級「跑贏大市」
阿思達克 04-29 11:20
大和發表研究報告,指福耀玻璃(03606.HK)首季汽車玻璃業務收入跌17.6%,其中本地市場跌27%,海外市場跌7.5%,公司的本地市場表現跑贏同業,同時均價亦見上升2%,公司附加值產品有助繼續推動均價。

該行指,維持對今年公司第二季表現審慎的看法,雖然海外需求暫停,但國內需求仍然持續,按新聞報道,美國多間車廠會於5月4日復工,料公司盈利下半年有望恢復。

該行降福耀玻璃2020-21年盈利預期8-27%,以反映首季表現,預期海外銷售跌20%,本地市場升2%,降2020-21年毛利預期至35.5%-37.7%,主因銷售下跌,及慇國廠房較預期慢的表現,目標價由27元降至19.11元,評級維持「跑贏大市」。

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