《大行報告》高盛上調比亞迪電子(00285.HK)目標價至33.32元 評級「買入」
高盛發表報告,對比亞迪電子(00285.HK)維持正面看法,料受惠產品組合改善,在收入穩固增長及毛利復甦支持下,今年盈利有望復甦。公司增加對新能源車業務以及住宅能源儲存敞口,並減少來自高度競爭的Android智能手機業務貢獻佔比。
該行留意到比亞迪電子新能源車業務持續擴大產品線,包括智能駕駛、動力管理系統等,較Android智能手機組裝業務帶來更佳毛利率。住宅能源儲存在歐洲市場的普及度亦上升,公司冀擴展至美洲及澳洲市場。
考慮去年下半年業績,高盛降比亞迪電子今明兩年盈測分別31%及25%,惟上調對其今明兩年收入預測分別5%及8%,以反映汽車業務新產品推出,及住宅能源儲存需求上升。目標價由升2%至33.32元,評級「買入」。
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