《大行报告》花旗上调中软国际(00354.HK)目标价至13.1元 评级「买入」
花旗发表研究报告指,与中软国际(00354.HK)管理层会面後,认为增长前景清晰,业务组合调整有望带动毛利率改善,重申对其「买入」评级。
管理层目标至2023年收入可达到300亿元人民币(即2020至2023年收入复合增长率达29%),有40%来自新兴产业的贡献,云端管理业务、企业数字化及华为「鸿蒙」系统相关发展,都将录得快速增长,当中华为相关业务估计可维持稳定的双位数增幅,并预期由於新兴产业相关业务毛利率高达40%,未来整体毛利率将逐年改善。
花旗将2021至2023财年盈利预测上调约7%至8%,目标价由10.5元升至13.1元,对应未来一年预测市盈率约22倍。
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