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《大行報告》大摩上調聯想集團(00992.HK)目標價至7.6元 評級「與大市同步」
阿思達克 08-11 10:56
摩根士丹利發表報告,上調聯想集團(00992.HK)目標價,由7.2元上調至7.6元,評級維持「與大市同步」。該行亦預計聯想集團截至9月底止次財季稅前溢利按季跌17%至5.74億美元,按年則料跌23%;次財季淨利潤按季、按年料同跌19%至4.17億美元。 該行指出,聯想集團目前渠道庫存為約10周,高於健康水平的6至8周,亦高於三個月前的6至7周,意味聯想集團將減慢從代工商接收電腦。就已完成產品庫存計算,聯想集團庫存按季升13%至約26億美元,估計聯想集團現財季個人電腦交付將按年跌15%。該行又認為,聯想集團管理層預計全球電腦今年交付3億至3.1億部仍過於樂觀,因上半年全球交付僅1.473億部,且往年數據顯示下半年交付量低於上半年。 但該行亦指,聯想集團上季基礎設施方案業務收入達21億美元,高於該行預計的19億美元,受惠於儲存業務市佔增加及取得新雲服務客戶,預期在零部件緊張供應有所紓緩及未完成訂單破紀錄下,該業務收入在現財季將有強勁增長。
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