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《大行報告》匯豐研究降偉易達(00303.HK)評級至「持有」 上調目標價至81元
阿思達克 06-09 10:36
匯豐研究發表報告指,偉易達(00303.HK)上年度增長強勁,相信需求來自在家工作與在家學習,以及銷售與分銷成本下降所致,公司重新將派息比率回復至99%。

該行指,對明年公司訂單表現看法正面,雖然玩具行業去年銷售表現錄高基數,但去年公司電子教育產品(ELP)仍未回復至2018年的水平,相信仍有增長空間。而電信產品(TEL)業務則見溫和復甦,當中商用電話的需求抵銷家用電話的跌幅;代工生產服務(CMS)方面,公司完成收購墨西哥廠房,有助擴張擴音器的供應。

該行表示,因應行業原材料供應緊張,特別是半導體與LCD,令公司或未能完成訂單,甚至令毛利受壓,降2022至23年度毛利預期分別1.1個百分點及0.5個百分點,至29.4%及30%,但盈利預測上調13%至18%以反映訂單增長及經營開支更有效率,目標價由70元升至81元,評級由「持有」升至「買入」。

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