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《大行报告》瑞银上调舜宇(02382.HK)评级至「买入」 目标价大升至285元
阿思达克 02-02 12:33
瑞银发表研究报告,上调舜宇光学科技(02382.HK)投资评级,由「中性」上调至「买入」,主要反映三星市占增加带来的摄像镜头模组上行潜力;以现金流折现率计,目标价由130元大幅升至285元,相当於预测市盈讯36倍。过去该行因美国对华为禁令,而对舜宇镜头模组业务更趋保守,但现时料三星市占增加将抵销有关影响。

报告称,即使舜宇手机镜头利润率转弱,人民币对美元升值,加上经营效率改善,将为镜头模组业务带来更佳成本结构及盈利能力。

瑞银下调舜宇去年每股盈测2%,但上修今明两年盈测分别9%及11%,指现时估值相当於未来一年预测市盈率26倍,认为反映了市场对iPhone预期,但未反映对三星市占潜在上行预期,并上修今明两年镜头模组付运增长预测,由原先的6%及7%,上修至分别19%及13%。

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