《大行报告》高盛一举升瑞声(02018.HK)评级至「买入」 上调目标价至58元
高盛发表报告指,随着瑞声科技(02018.HK)在手机镜头和摄像头模块领域的业务扩展,该行引入了长期估值(2024-27年)及更新市盈率的估值方法,以更好地把握公司在摄像头领域的长期机会。报告假设瑞声盈利在2025至27年度回到行业水平的15%复合年增长率,并采用13倍的行业市盈率来计算,把目标价由31元上调至58元,潜在上升空间为44%,评级由「沽售」上调至「买入」。
报告将瑞声2021至2023年度的净收入预期分别上调6%、25%、17%,主要是由於产能扩张计划强於预期,手机镜头出货量增加,以及新的相机模组业务带动市场份额提升、相机模组平均销售价上升、更低的运营成本和更低的税率。
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