《大行報告》瑞信上調鴻騰精密(06088.HK)目標價至2.8元 評級「跑贏大市」
瑞信發表研究報告指出,鴻騰精密(06088.HK)管理層預期今年廠房設施的資本開支將有所增加,而其中一個位於新地點的新廠房可能與主要美國客戶的潛在新產品相關。經該行渠道調查顯示,相信或與真無線藍芽耳機有關。該行預期有關的資本支出增長溫和,佔今明兩年的收入貢獻各約3%及8%。
此外,該行認為電動車業務仍是鴻騰精密擴張重點,公司強勁的電力、數據和人機介面(HMI)方面的關鍵優勢,有利尋找主要客戶。此外,公司目標於今年中完成收購PRETTL SWH的交易,估計可帶來約1.75億至2億歐元按比例分配的收入貢獻,以及提升毛利率。
瑞信認為,鴻騰精密有望實現其去年的目標,包括收入增長按年持平及毛利率達中雙位數等。該行愈來愈看好公司的盈利能力,對其今明兩年的每股盈利預測分別上調3%及7%,維持去年預測大致不變。目標價由1.71元上調至2.8元,維持「跑贏大市」評級。
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