《大行報告》大摩上調AMD(AMD.US)目標價至87美元 評級「增持」
摩根士丹利發表研究報告指,AMD(AMD.US)前景疲弱,數據中心業務按季跌幅達雙位數,毛利率低於預期。在極具挑戰的環境下,大摩仍然認為這比擔心的情況要好。該行對2023財年的收入預測基本維持不變,但毛利率下調。
雖然AMD業績令人失望,但根據英特爾的指引,相信投資者能鬆一口氣。AMD數據中心對客戶庫存水平的可見性有限,將提高數據中心的風險狀況,但鑑於強勁的市場份額,該行將集團目標價上調至87美元,評級為「增持」。
該行預期,集團今年首季收入將為53.17億美元,非通用會計準則毛利率為50%,非通用會計準則營運利潤為20%,每股盈利為0.57美元。以全年計算,預期收入為240.65億美元,非通用會計準則毛利率及每股盈測分別下調至51.1%及3.14美元(原本預測53.3%及3.69美元)。在2024財年,該行繼續預期表現將會反彈,料屆時收入增13.3%至272.65億美元,非通用會計準則毛利率及每股盈測分別為54.8%及4.3美元。
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