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《大行報告》里昂下調申洲(02313.HK)目標價至99元 評級「買入」
阿思達克 03-30 11:01
里昂發表研究報告指,申洲國際(02313.HK)2022年銷售額及淨利潤按年分別增長17%及35%,均超出預期,但全年毛利率較為遜色,預測今年上半年銷售將因國內生產利用率不足及全球去庫存趨勢而下降。 公司產能擴張計劃維持不變,料按年增長10%至15%。雖然在宏觀不確定性下期內可能會出現大客訂單,惟里昂認為對實際銷量的影響不大,因為利用率仍需要時間回升。 該行預測申洲今年全年銷售額及淨利潤將按年增長6%,2023至2025年的年複合增長率分別為14%及26%,基於預測調整,將目標價從127元下調至99元,但維持「買入」評級。
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