《大行報告》花旗下調丘鈦(01478.HK)目標價至7元 評級「買入」
花旗發表報告,認為丘鈦科技(01478.HK)短期財務表現受到Android智能手機需求疲軟和規格壓力影響,儘管在目前的估值來看,這些憂慮似乎已大致反映。
該行指,管理層預期,在內地疫情封鎖措施的影響下,料第二季毛利率接近收支平衡水平,並預計下半年毛利率將因手機攝像頭模組(HCM)出貨量改善,和部分客戶(如榮耀、Oppo和Vivo)的需求反彈而持續改善。
基於Android智能手機行業存挑戰,該行下調丘鈦2022至24年盈測14%至29%,目標價相應由8元下調至7元,預期手機攝像頭模組和指紋識別模組(FRM)有潛力於明年恢復,汽車和物聯網產品的帶來新的業績貢獻,維持「買入」評級。
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