《大行報告》匯豐研究下調舜宇(02382.HK)目標價至145.7元 下調瑞聲(02018.HK)目標價至13.8元
匯豐環球研究發表報告,下調舜宇(02382.HK)及瑞聲(02018.HK)目標價,舜宇目標價由168.5元降至145.7元,評級維持「買入」;瑞聲目標價由18.4元降至13.8元,評級維持「持有」。
該行預測舜宇及瑞聲經歷艱難的第二季,分別下調兩者2022至2024年淨利潤預測26%-39%及26%-36%,反映智能手機交付預測下調、平均售價壓力上升及毛利率因光學業務更激烈競爭而惡化。該行對兩者的全年盈利預測較市場低22%至40%,並對今年下半年展望更為審慎,尤其為安卓作業系統手機,基於舜宇及丘鈦科技(01478.HK)早前的半年盈警。
另一方面,該行料舜宇在iPhone相機鏡頭市佔進一步上升,將為股價帶來短期刺激,瑞聲在汽車聲學空間滲透亦可帶來長期價值重估機會。
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