《大行報告》摩通下調瑞聲(02018.HK)目標價至22元 評級「增持」
摩通發表報告指,瑞聲(02018.HK)將於本周四舉行業績會議。該行削減對業績預測,以反映假設庫存減值和硬件組件去庫存導致的智能手機需求疲軟持續存在。但繼續看好瑞聲,並預計在下半年基本面會有強勁的反彈,主要是由於iPhone需求穩固和觸覺規格升級;Android需求見底反彈;光學產品毛利率在謹慎的生產和定價策略下可能會穩定下來。
摩通對瑞聲去年淨利潤預測下調30%,至2.27億元人民幣,比市場預期低12%。毛利率預測由20.1%降至
17.4%。目標價由23元降至22元,評級「增持」。
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