《大行報告》裏昂降瑞聲(02018.HK)評級至「沽售」 目標價下調至16.5元
裏昂發表報告表示,預期今年上半年iPhone出貨量按年下跌20%,而由去年第四季度富士康的庫存堆積,零件供應商業務可能會出現更大的按年跌幅。至於瑞聲決定推遲分拆誠瑞光學上交所上市的事宜,該行認爲由於缺乏上市募集資金和股份回購成本,瑞聲將面臨財務成本問題。
該行將瑞聲2023至2024年度盈利預測各下調20%及21%,以反映iPhone出貨量下跌及較高的財務成本預期,將瑞聲目標價由22.2元降至16.5元,相當預測今年市盈率16倍(此前予估值18倍),將其評級一舉由「買入」下調至「沽售」。
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