《大行報告》瑞信降瑞聲(02018.HK)評級至「中性」 目標價下調至41.8元
瑞信發表報告,將瑞聲科技(02018.HK)2021至2023年的每股盈利預測各下調19.9%、22.8%及21.1%,由於Android手機銷情疲弱、競爭激烈及設備使用率波動,導致公司毛利率以及平均售價下降。
該行表示,下調對瑞聲科技評級,由「跑贏大市」調低至「中性」,目標價由59.2元下調至41.8元,此相當預測2022年市盈率19.3倍(此前予其估值21.1倍)。
瑞信預計,瑞聲今年第三季光學產品出貨量約1億件(按年及按季均錄下滑)及毛利率也會受到壓力。該行亦料瑞聲業績在第四季將會按季改善,不過由於高基數效應,相信仍然會錄得按年跌幅。
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