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瑞銀:料聯想(0992.HK)回A成股價近期正面催化 予目標價11港元
格隆匯 10-05 13:59

聯想集團(0992.HK)到上海科創板上市的申請在上週四(9月30日)已獲上交所受理。 瑞銀髮表研究報吿指,儘管聯想上市的申請仍在審核中,且受制於當地的監管部門,但依然認為聯想發行中國存託憑證(CDR)的過程將成為其股價近期的正面催化。該行認為,聯想目前估值吸引,予其“買入”評級,目標價11港元。

報吿提到,聯想計劃公開發行不超過13.38億股CDR,發行的股份不超過初始發行後股份總數的10%,募資100億元人民幣。根據招股書所述,募集所得的55%資金將用於新產品以及雲基礎建設、數碼轉型和人工智能等項目的發展,10%金將用於行業戰略投資,其餘35%則作為營運資金。

該行重申聯想會受惠於可持續的商業電腦業務的看法,預料商業電腦將佔集團總出貨量的58%,水平跑贏其他同業。隨着多地放鬆防疫措施,企業理應恢復自2020年延後的IT支出和為辦公室的電腦硬件升級,相信商業電腦需求將重拾增長動力。此外,商業電腦的平均銷售價格較個人電腦高,預料這將利好聯想的利潤率。

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