《大行報告》瑞銀上調敏實(00425.HK)目標價至51.2元 評級「買入」
瑞銀髮表報告,上調敏實集團(00425.HK)目標價由41.5元至51.2元,重申「買入」評級,並將其加入該行的亞太焦點股名單。
報告指,就收入而言,敏實將成爲全球最大的電池盒公司之一,並偏好其平衡的客戶組合和全球佈局,以及料其可維持毛利率。該行預計敏實2021年至2024年的盈利年複合增長率爲26%,股本回報率將從2021年的12%上升到2024年的18%。
敏實目前估值較A股上市同業折讓逾50%,該行認爲是不合理,因爲其新能源車零件等業務對總收入的貢獻與同行一致。未來潛在的股價催化劑包括新的訂單公告、芯片短缺緩解、鋁價下跌以及發行A股於科創板上市的進展。
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