《大行報告》大摩上調高通(QCOM.US)目標價至145美元 評級「增持」
摩根士丹利發表報告指,高通(QCOM.US)3月底止季度增長指引大致達到市場預期水平,預期有助減輕投資者焦慮,但公司管理層亦強調經營環境困難情況將持續存在,因此將6月底止季度預測相應下調,截至今年9月底止2023財年收入預測從385.79億美元降至369.24億美元,非通用會計準則下每股盈利預測料達9.04美元,當中已計及專利授權業務(QTL)的低雙位數下跌及半導體業務(QCT)的逾15%跌幅。
該行憧憬高通今年上半年將達到有意義的庫存消化,下半年起經營可望出現改善,改以2024年經營預測為基礎,將目標價由126美元上調至145美元,評級「增持」。
大摩認為,智能手機需求將有所改善,同時5G普及化亦將帶動行業手機數量增長,由於華為目前並不支付專利費用,為高通中國市場主要競爭對手海思半導體帶來潛在影響,亦可能對公司發展有利。
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