大和:重申小米(1810.HK)優於大市評級 目標價24港元
大和發表研究報吿指,小米(1810.HK)今年第三季收入按年增長8%,略低於預測,主要由於全球核心零部件短缺以及海外海運物流面臨挑戰,集團硬件銷售較預期疲弱。該行相信,供應鏈問題有所紓緩的情況,或較原先預期快,有望明年上半年會有改善,因此上調小米明年及後年智能手機出貨量預測,分別有2.25億部及2.38億部,重申其“優於大市”投資評級,目標價24港元。
大和表示,小米良好的執行策略,有助集團持續搶佔市場份額,今年首九個月,小米出貨量按年增長40%,並透過產品Civi吸納女性客户。今年推出的新智能手機型號,其用户中有一半以上是新用户。在高端智能手機型號比例上升的推動下,第三季度的混合平均售價按年增長7%。隨着今年第二季在中國的銷售渠道進一步改善,競爭問題可能會得到解決。 大和表示,基於較高的智能手機出貨量預測,上調小米2022至23財年收入預測2至3%,並上調每股盈利預測4至6%。

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