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瑞信:提高小米(1810.HK)手機出貨量預測 給予公司股價優於大市評級
格隆匯 07-19 12:42

瑞信發表研究報吿指,由於海外需求超預期,提高小米(1810.HK)2021、2022、2023年智能手機的出貨量預測至2.02億、2.37億、2.59億部。該行維持小米優於大市評級以及目標價35港元。

瑞信預計,小米2021年第二季收入將按年增長68%至900億元人民幣,增速較彭博的預估高11個百分點,而毛利率料達17.2%,經營利潤將超過25%,淨收入將增長75%至59億元人民幣。

該行引述Canalys的報吿指,主要由於海外需求強勁,小米第二季智能手機出貨量按年增長83%至約5270萬部,超出預期的4600萬至5000萬部;市佔率達17%,首次成為全球第二大手機廠商。報吿指,小米在中國的銷售份額亦從去年的8%增至17%,且在印度市場仍具領導地位。

瑞信指出,新品發佈、智能手機市場份額持續增長、毛利率改進,以及月活躍用户數復甦,將成為小米股價催化劑。但提醒要注意中美貿易、科技戰、海外疫情、市場競爭、保證金壓力和外匯等影響。

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