《大行報告》高盛上調中芯(00981.HK)目標價至42元 重申「確信買入」名單
高盛發表報告表示,重申中芯國際(00981.HK)「買入」投資評級及該行「確信買入」名單,並大升目標價由原來23元升至42元,此按折讓預測市盈率方式估值,相當預測2022年預測市盈率68倍及市賬率3.8倍,料公司至2022年下半年可升級至7納米製程、料2024年下半年可升級至5納米製程,料至2025年毛利率可升至30%。
該行指,中芯推動盈利的成熟技術應用(mature node)利用率高企,推動收入的先進技術應用(advanced nodes)亦持續擴張,加上中國的集成電路設計設計公司不斷增加,令中芯可從中受惠。
高盛料中芯於2020年至2022年每股盈利預測各為0.05美元、0.04美元及0.08美元,料2020年至2022年純利預測各為2.29億美元、2.29億美元及4.04億美元。
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