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《大行報告》中金下調聯想集團(00992.HK)目標價至8.8元 降2023財年淨利潤預測逾11%
阿思達克 05-27 14:45
中金發表研究報告指,聯想集團(00992.HK)2022財年第四季業績略超預期,純利達到4.12億美元,較該行預測高出16%。而2022財年全年各項業務盈利能力均有所改善,帶動淨利潤率按年提升0.9個百分點。 報告指出,聯想個人電腦(PC)業務逆境增長,在芯片短缺、疫情及市場氣氛較差的情況下,第四財季收入仍按年增長6.7%,預期產品單價受到遊戲專用及工作手提電腦等佔比提升所推動。 全年計,非PC業務佔智能設備業務(IDG)板塊比例達到18.4%,其中手機營收增長39%、智能協同營收增長近倍。展望2023財年,中金預期PC業務或受制於2022財年的高基數和疫情不確定性,但非PC業務多元化發展,有望支持IDG業務持續增長。 中金將聯想目標價下降至8.8元,考慮到疫情對生產及交付的影響,將2023財年淨利潤預測下調11.5%至22.71億美元,同時預測2024年盈利可達到27.81億美元,維持「跑贏行業」評級。
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