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《大行報告》瑞銀升聯想集團(00992.HK)評級至「買入」 上調目標價至6.5元
阿思達克 09-15 10:00
瑞銀發表報告指,將聯想集團(00992.HK)2021財年至2023財年盈利預測升16、24%及36.9%,以反映公司PC業務強勢,而流動及伺服器業務盈利能力有改善,相信公司在商用及消費者PC層面市場份額將進一步增加。

該行指,雖然今年以來聯想集團股價已跑贏恆指,但相信來自在家工作的PC需求強勁,認為市場未完全反映聯想在PC及數據中心方面的潛在市場份額增長,以及流動業務方面盈利復甦的影響,將目標價由4.85元升至6.5元,相當未來一年預測市盈率4.85倍,評級由「中性」升至「買入」。

瑞銀估計聯想集團PC業務將有強勁增長,將2021及2022財年收入預測分別升6%及15%,估計市場份額將進一步提升,主要因為售後服務重要性在疫情後有所提升,而內地商用PC市場亦見復甦,加上公司在內地消費者PC方面有領導地位。

該行估計疫情對聯想集團具規模及有提供售後服務的廠商有支持,因為員工在家工作的情況下企業IT團隊需要處理不同的狀況,另外該行亦相信公司在中國具領導地位,有利受惠中國商用PC市場復甦,而消費者更換PC需求亦會持續。

在流動業務方面,該行估計聯想集團至2022財年將可扭虧,主要受惠5G智能手機升級週期,而數據中心業務方面則料盈利能力會逐步改善,並於未來數年維持雙位數增長,市場份額繼續增加而客戶組合亦會繼續改善。(el/w) ~

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