《大行報告》富瑞下調中興(00763.HK)目標價至25.56元 評級「買入」
富瑞發表評級報告指,中興(00763.HK)第三季收入、核心營運利潤及淨利潤分別按年增6.5%、3.7%、27%,較市場預期分別高出0%、2%及8%;該行表示,第三季收入增長由次季的19%放緩下來,主要是載體設備交付和收入確認不穩定、疫下封城令企業和政府活動速度放緩。
該行表示,中興第三季毛利率按季升1.7個百分點、按年持平,核心營運利潤率錄得7.7%的穩定增長;集團維持今年收入指引達1,250億至1,300億元人民幣,按年增9%至13%,以展示集團對能夠在第四季追回的信心。
富瑞調整對中興預測,其對中興未來三年盈測較市場預期高出介乎8%至26%,目標價由31.47元下調至25.56元,相當於預測今年市盈率12倍,維持其評級為「買入」。報告指,現估值相當於預測今年市盈率6.8倍,較2009年以來長期平均值低出兩個標準差。該行料中興可受惠於內地數字轉型及ICT本地化的努力。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.