《大行報告》花旗降海天國際(01882.HK)評級至「沽售」 削目標價至17.5元
花旗發表報告指,海天國際(01882.HK)去年業績勝預期,但由於美國和歐盟收緊貨幣政策和中國消費增長放緩,今年的盈利前景不確定性增加,因此將2022年至2023年的盈利預測下調14%至15%。目標價由39元降至17.5元,隨著股價在過去1至2周內反彈約25%,將評級由「買入」下調至「沽售」。
報告指,在分析師電話會議上,管理層表示,由於中國政府放寬中小企業貸款,今年首季訂單保持穩定。惟在房地產銷售下滑的情況下,家用電器表現較差。由於高基數和半成品短缺,該行對汽車行業的PIMM需求也持謹慎態度。考慮到汽車和家電兩者貢獻一半銷售額,可能導致今年的盈利下行風險增加,預計今年的盈利將下降8%。
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