《大行報告》瑞信上調中興(00763.HK)目標價至26.8元 評級「跑贏大市」
瑞信發表研究報告指,中興(00763.HK)去年第四季收入及純利分別為304億及13億元人民幣,按年減少1%及上升31%,均遜該行及市場預期。
公司預計,中興今年銷售額約為1,380億至1,400億元人民幣,其中營運商網絡、政企、消費者業務按年增長10%、20%、15%。今年毛利率將保持穩定或略有上升,而營運支出比率將持平或略有下降。該行指,營運商的資本支出上升和工業數字化遷移將繼續推動收入錄雙位數增長。
該行上調集團2023至24年的每股盈測1%,以反映較高的毛利率和較低的營運支出,惟部分被較低的銷售所抵銷,目標價由22.1元上調至26.8元,維持「跑贏大市」評級。
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