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《大行報告》大摩上調敏實(00425.HK)目標價至44元 評級「增持」
阿思達克 03-03 10:00
摩根士丹利發表研究報告,指出隨著行業最近的回調,敏實(00425.HK)股價在1月中自高位下跌17%。然而,該行認為公司在傳統業務及新措施上有良好平衡。對於現有的裝飾業務,預期在疫情影響後,在行業加速整合下,每年能增加1至1.5個百分點的市佔率增長,再加上市場復甦,三年的收入年複合增長率料為17%。另外,該行預期公司的創新產品會在2022年貢獻收入8至10%。

該行指,芯片短缺和材料成本增加仍然是汽車行業的主要障礙,雖然沒有任何公司能完全倖免,但相信公司在客戶、模型、市場上的卓越多元化以及強大的工業、價值工程能力,可確保較其他同業具有更強的韌性及議價能力來面對這些問題。

大摩重申敏實「增持」投資評級,目標價由原來的33元上調至44元,反映該行將2021至2022年的盈利預測上調7至19%。

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