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《大行報告》高盛:瑞聲(02018.HK)上季毛利率重回擴張 重申「買入」評級
阿思達克 11-10 14:35
高盛發表研究報告指,瑞聲(02018.HK)今年9月底止第三季收入按年增長27%,較該行及市場預期分別高出18%及10%。毛利率按季增長0.7個百分點至19%,是自2021年毛利率下降以來首次出現連續回升。營運支出率達14.4%,亦較上季(14.8%)及去年同期(17.1%)有所改善,但仍不及該行及市場預期的14%。 高盛表示,瑞聲第三季業績顯示業務的確有所改善,雖然恢復得較預期遲,而且智能手機鏡頭行業已經飽和,不過仍然看好瑞聲科技在鏡頭及模組市場份額的增長。 該行預測瑞聲2023至2024年收入將按年增長約23%及15%,維持「買入」評級及目標價22元不變。
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