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花旗:上調創科實業(0669.HK)目標價至90港元 評級“買入”
格隆匯 06-24 10:39

花旗發表研究報告表示,上調創科實業(0669.HK)目標價兩成,由75港元調高至90港元,維持“買入”評級。

該行稱,創科的對手SWK預計今年第二季銷量同比跌15至20%,較4月時估計的下跌35至45%收窄。該行認為,這意味美國及歐盟經濟逐漸復甦,從而帶動對SWK電動工具的需求。該行預計創科也將有同樣的趨勢,尤其是專注專業工具的MILWAUKEE,因為SWK業務是傾向專業工具範疇。

該行上調創科每股盈利預期3至5%,並上調其目標價,主要出於MILWAUKEE今年下半年將恢復同比增長的考慮,並繼續視創科為內地工業行業的首選股。

另外,該行預計集團上半年毛利率為37.6%,息前税前利潤率(EBIT margin)為8.9%,預計盈利同比增3%至2.94億美元。

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