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中銀國際:在電氣化和自動駕駛的行業趨勢上估值被低估 上調耐世特(1316.HK)目標價至18港元 評級“買入”
格隆匯 01-19 13:45
格隆匯1月19日丨中銀國際今日發研報指,由於耐世特(1316.HK)在亞太和歐洲的業務表現出色,以及美國市場的復甦,美元貶值帶來的有利外匯兑換,該行預計公司2020財年下半年的整體營收將實現逾18億美元的正增長,並預計淨利潤將同比增長超過15%達到1.17億美元,優於一致預期。該行指出,目前的預測沒有考慮到潛在的税收優惠,這可能會給公司淨利潤帶來進一步的上升。展望未來,鑑於耐世特在R-EPS的領先地位和DP-EPS的增量貢獻,中銀國際料電氣化的行業趨勢預示着耐世特將進一步增強其全球市場份額。該行相信隨着自動駕駛技術的發展,耐世特將從SBW技術的商業化中受益。此外,公司的估值仍遠低於在香港上市的同行,作為受益於電氣化和智能化的關鍵零部件供應商,中銀國際認為耐世特的估值重評遠未結束,重申“買入”評級,並將目標價上調至18港元,較1月18日收盤價11.42港元有約58%的潛在升幅。
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