《大行報告》野村降小米(01810.HK)目標價至16元 料今年智能手機銷量目標難達標
野村發表報告,自去年5月以來對小米(01810.HK)持審慎看法,因同業榮耀加入市場競爭,令小米在內地市場份額缺乏增長,小米股價自去年5月以來已累跌52%(對比恆指同期累跌26%),行維持小米「中性」評級,但目標價由31元下調至16元,料公司今年硬件業務付運會迎來挑戰。
該行認為,小米的目標是2022年全球智能手機出貨量超過2億部,但由於中國需求低迷以及烏克蘭與俄羅斯戰事導致的宏觀經濟和地緣政治不確定性,該行目前估計小米今年的出貨量可能只有1.9億或更少,預計2022年小米的電視出貨量可能會達1,300萬台左右。
野村表示,有別於智能手機零部件供應商,料小米的毛利率波動較小;認為只要小米功在海外市場擴大市場份額,它可能仍然是一隻值得關注的股票,而電動車業務仍處於起步階段,如果小米能夠成功擴大其電動汽車業務,可能成為其估值的上行催化劑。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.