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《大行報告》大摩上調聯想集團(00992.HK)目標價至4.9元 評級「與大市同步」
阿思達克 08-17 10:26
大摩發表的研究報告指,儘管聯想集團(00992.HK)下半年PC市場展望較好,但市場似乎只想看到數據中心業務盈利能力顯著改善。該行相信9月份公司季度銷售應輕微增長,主要受惠PC需求較好以及智能手機銷售復甦,估計PC出貨量按季將升4%,但產品組合方面或傾向Chromebooks層面,意味收入僅增約1%至107億美元。而智能手機方面,該行料收入按季增長將達雙位數至14億美元。而數據中心業務或按季呈單位數跌幅至15億美元,主要因為企業需求或會受壓。

該行指出管理層在電話會議中對Chromebook需求看法亦樂觀,但該行看法不如管理層樂觀,估計下半財年仍受惠於Chromebook的需求,但2021財年訂單或會受拖累。

大摩指出雖然管理層表明現時正轉向軟件、服務及DaaS這些利潤較高的方向,惟相關貢獻現時仍較細,認為策略需要時間才見效,現時來看上升的催化劑有限,將公司目標價由4.6元升至4.9元,評級「與大市同步」。(el/u) ~

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