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《大行報告》大和下調瑞聲(02018.HK)目標價至16.5元 評級「買入」
阿思達克 09-28 10:19
大和發表報告指,瑞聲(02018.HK)正面對著Android智能手機需求於短期內疲軟的問題,惟預期2023年需求可能獲得更好的復甦,看好其長期前景。該行將瑞聲目標價由18元下調至16.5元,相當於未來一年預測市盈率16倍,重申對其「買入」評級,下調瑞聲2022至2024年的每股盈利預測5至10%,反映Android智能手機需求疲弱因素。 該行提到,瑞聲對2023年的利潤改善持積極態度,因整體市場需要恢復及組合改善,集團又看好其觸覺和精密機械業務的項目。從長遠來看,瑞聲科技認為其汽車和AR/VR業務具有巨大潛力,並預計這些業務將成為未來幾年的主要增長動力,並將在2024至2025年為集團布來收入貢獻。 大和亦預計,集團將在2023至2024年恢復穩健的盈利增長,原因是需求可能復甦、光學利潤率提升、及蘋果手機業務穩定。
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