《大行報告》瑞信降福耀玻璃(03606.HK)評級至「跑輸大市」 維持目標價45元
瑞信發表研究報告,指福耀玻璃(03606.HK)次季業績大致符預期,純利按年升81%至9.14億元人民幣,按季亦升7%,受惠收入在低基數下按年升48%所推動。上半年純利升83.5%至17.7億元人民幣,達市場全年預期的44%。
報告稱,市場憧憬產品快速提價,福耀玻璃過去三個月股價累升31%,主因高價新玻璃產品如智能顯示玻璃等滲透率提升。即使該行喜好其高端產品滲透帶來的銷售均價上升,但由於估值高昂,降投資評級由「中性」下調至「跑輸大市」,維持H股目標價45元,並輕微下調2021至2023年每股盈測介乎0.2%至0.9%,以反映外匯預測變動。
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