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《大行報告》大摩上調福耀玻璃(03606.HK)目標價至46元 評級「與大市同步」
阿思達克 01-15 10:36
大摩發表研究報告,上調福耀玻璃(03606.HK)目標價,由22元升至46元,評級「與大市同步」,認為其太陽能玻璃市場可進一步帶動長遠前景。

該行指,市場對公司太陽能玻璃的發展感到樂觀,因目前市場需求強勁,供應緊絀令利潤豐厚。公司指計劃配股以捉緊太陽能玻璃的發展機會,但指任何投資都需至少2年時間才有成果,故目前仍存不確定性。

該行又指,汽車市場需求快速復甦,而公司市佔率增加,規模改善亦帶動利潤明顯增長,下游需求增加有利如福耀等垂直整合公司發展。

該行表示,目前公司在全球汽車玻璃有28%市佔率,目標於未來3年增至35%。考慮到公司在中國市佔率為65-70%,相信公司需增加歐美等海外市場佔比。另外,福耀稱客戶對鋁窗框、飾條和車頂架需求強勁。

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