《大行報告》大摩上調創科(00669.HK)目標價至183元 評級「增持」
大摩發表報告指,預計創科(00669.HK)下半年收入按年增長20%(原預測增15%),較上半年增長6%,毛利率擴展到39%,營業利潤率擴展到9%。綜合計算,料下半年淨利潤按年增長23%。
大摩引述創科指,增長勢頭仍然穩固,6月底庫存按年增長39%,以確保創科有足夠庫存滿足客戶需求,並避免關鍵部件如芯片和電池的短缺。儘管創科認為,鑑於基數較高,下半年將不會再有40%至50%的收入增長,但目標仍然有兩位數的增長,以及50個基點的毛利率擴張,並預計集裝箱運輸成本將增加。目標價由160元上調至183元,評級「增持」。
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