《大行報告》美銀證券下調小米-W(01810.HK)目標價至8元 評級「跑輸大市」
美銀證券發表報告指,據第三方數據公布有關智能手機交付量,將小米-W(01810.HK)第三季經調整盈利預測下調29%至20億元人民幣,並相信集團內地交付量表現疲軟,將會拖累其第三季的毛利及盈利,並料集團第三季收入或按年跌10%至700億元人民幣,以及實際經營利潤率或為2.5%,主要是反映海外促銷,以及來自於電動車及其他新業務的營運支出負擔。
該行表示,海外庫存正在消化,惟新興市場需求仍然疲弱,美元走強以致競爭激烈;在內地方面,庫存下降至相對地健康的水平,但需求並無復甦的跡象,加上在宏觀環境不確定下,明年盈利能見度仍然低。
美銀證券將集團2022年至24年盈利預測下調7%至12%,以反映前景不明朗,目標價相應由9.1元下調至8元,重申「跑輸大市」評級。(ca/s)
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