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《大行報告》摩通下調小米(01810.HK)目標價至32元 評級「增持」
阿思達克 08-23 10:43
摩根大通發表研究報告,預期小米(01810.HK)在強勁的手機出貨量、健康毛利水平及互聯網服務盈利能力的帶動下,估計其今年次季盈利料表現向好。 展望下半年,該行預期小米今年第三季表現將相對寞弱,當中主要由於上游供應受限及季節性影響,預期至今年第四季出貨量將有所恢復。 摩通維持小米全年智能手機出貨量達到2.04億部以上(按年升38%)的預料,較市場預期的1.8億至1.9億高,並預期明年小米的市場份額將繼續提升,特別是在歐洲、東南亞及拉丁美洲,而中國內地市場則保持為約17%以上,估計今年全球市佔率將提升至15%。 該行估計,公司在中國市場更多高端手機推出、以及每月活躍用戶量持續增加,互聯網服務下半年及明年增長將加快。該行基於未來一年經調整市盈率19倍作估值,將目標價由35元下調至32元,維持「增持」評級。
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