《大行報告》花旗降瑞聲(02018.HK)評級至「沽售」 下調目標價至20元
花旗發表報告,指瑞聲科技(02018.HK)為2021年第四季業績發盈警,預期盈利1.6億至2.2億元人民幣,按年下跌71%至79%,低於該行及市場預期,該行下調對其2022年及2023年盈利預測均16%,反映毛利率疲弱因素。
該行稱,由於供應鏈中斷、內地運營成本增加和競爭激烈,導致瑞聲業績遜色,加上光學業務產品平均售價和生產效率下調影響,結合智能手機行業前景,花旗對業務前景更加謹慎,下調瑞聲評級由「中性」至「沽售」,調低對其目標價由38元降至20元,相當預測今年市盈率11倍,但中長期對瑞聲看法審慎樂觀。(me/w)
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