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《大行報告》花旗下調ASMPT(00522.HK)目標價至110元 評級「買入」
阿思達克 07-22 09:56
花旗發表報告,認為ASMPT(00522.HK)第二季營運溢利符合市場預期,但第三季收入指引(介乎5.6億至6.3億美元)低於該行及市場同業原預期均20%。 該行指基於收入放緩,決定將對ASMPT的2022年第三和第四季盈利預測分別下調12%和11%,對其目標價由120元下調至110元,相當預測2022財年下半年至2023財年上半年的綜合市盈率17倍,維持「買入」評級。 花旗表示,在先進封裝和汽車解決方案的高毛利業務帶動下,預計ASMPT於2022年第三季毛利率為40.8%,訂單出貨比值不太可能恢復至第三季的健康水平,預料第四季收入將按季下降3%。該行基於短期不確定性下調目標價,不過長遠來說仍看好由汽車、HPC、5G驅動的先進封裝工具業務。
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