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《大行报告》瑞信:小米(01810.HK)获美法院颁临时禁令 暂消除资金撤出影响
阿思达克 03-15 09:48
瑞信发表报告表示,小米(01810.HK)获美国法院颁发临时禁令,暂停将公司认定为中国涉军企业的行政命令,令美国人自3月15日起禁买其股份并要在2022年1月14日前沽出的禁令获暂缓,同时MSCI已宣布不会将小米剔出相关指数,可暂时消除相关资金撤出的影响。

该行指出小米过去一个月公司股份跌17%,加上被列黑名单的忧虑去除後,令小米估值变得吸引,估计公司将继续受惠智能手机市场份额提升、中高端手机渗透率提升、互联网收入变现及海外收入扩张等因素,不过就将其2020年每股盈测下调以反映非经营开支较高的影响,对2021年及2022年的预测则大致不变,目标价由34.8元微降至34.3元,重申「跑赢大市」评级。

瑞信估计小米去年第四季收入将差过预期,主要因为受零部件短缺影响去年第四季智能手机出货量稍低,加上由於产品推出延迟令IoT收入洞少,不过估计受惠经营开支表现及非经营收入等,期内经调整净利将符预期。

该行维持对小米2021年及2022年智能手机出货量1.95亿台及2.11亿台的预测,料平均销售单价将分别按年升6.5%及3%。另外该行亦料小米IoT及互联网服务业务今年将分别升36%及25%。(el/w) ~

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