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《大行報告》富瑞下調信義光能(00968.HK)目標價至6.76元 評級「跑輸大市」
富瑞發表研報,將信義光能(00968.HK)的目標價從6.83元輕微下調至6.76元,對應預測2023年市盈率15倍,指出公司去年業績遜預期,加上未來仍要持續面對毛利率壓力,因此重申對其「跑輸大市」評級。 報告指出,雖然信義光能去年太陽能玻璃銷量按年增長44%,去年純利按年跌22%,至38.2億元,遜市場預期12%;報告認為供過於求的情況將在今年維持,太陽能玻璃產能增加將為毛利率帶來進一步壓力,估計今年1月份公司的太陽能玻璃利潤率降至約14%,而行業庫存水平仍維持在28天的高位,隨著首季產能大幅增加,毛利率壓力將繼續存在。
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