《大行報告》花旗上調海天國際(01882.HK)目標價至39元 評級「買入」
花旗發表研究報告指,海天國際(01882.HK)上半年收入及利潤超出該行預測20%及16%,因此將2021至2023年盈利預測上調8%至9%,考慮到汽車、醫療、高端製造及消費品包裝市場需求大於預期,將目標價提升至39元,評級「買入」。
展望下半年,該行預期收入將較上半年增長5%至86億元人民幣。上半年銷售均價上升6%至10%,花旗料有助抵消下半年原料成本上升壓力,預期下半年毛利率將由上半年的32.3%輕微改善至32.5%。
花旗指,海天國際為中國最大的塑料注塑機生產商,按銷量計市場佔有率達40%,相信隨著貿易關係有所緩和,5G智能手機設備投資週期將推動市況恢復,產品高端化亦預期有利於毛利率增長。
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