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《大行報告》摩通升耐世特(01316.HK)目標價至5.5元 評級「中性」
阿思達克 08-18 09:42
摩通發表評級報告指,由於4,900萬美元的一次性非現金項目未確認的稅務優惠,耐世特(01316.HK)上半年呈虧損,公司上半年稅前利潤按年跌78%,按半年跌1%。公司指出,現時宏觀環境具有挑戰性,包括俄烏戰爭、成本上漲及汽車芯片短缺,以致生產效率低,從而令盈利下跌。 該行指,管理層料下半年全球輕型汽車產量呈反彈,按年升11%及按半年升9%,並相信耐世特收入會繼續優於行業的整體產量;另外,即使利潤率仍需時回復至疫前水平,但管理層料下半年出現數個有利因素,包括更高的使用率以及商品價格下降,有助推動利潤率回升。 該行將公司今年、明年盈利預測分別下調60%及15%,以反映公司未能達致該行盈利預測,並將其目標價由4.6元上調至5.5元,主要因宏觀環境好轉(生產及毛利復甦),維持其評級為「中性」。(ca/u) ~
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