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《大行報告》富瑞上調中興(00763.HK)目標價至32.43元 評級「買入」
阿思達克 04-24 10:23
富瑞發表研究報告指,中興(00763.HK)首季收入僅增長約4.7%,遜預期,可能是受到疫情和智能手機銷售疲弱所影響。但2023財年的毛利率為44.5%,比該行預期高出7個百分點,這或是由於營運商在收入組合中的佔比更高以及其毛利率進一步上升。核心營運利潤增長45%。淨利潤增長19%,但如果撇除庫存減記,將增長42%。 該行下調集團今年收入預測4%,但將核心營運利潤和淨利潤預測分別上調5%。該行認為,集團估值仍然不高,而且美國對中國當前領先企業的潛在限制所帶來的服務器上行空間並未體現在價格中。該行予集團「買入」評級,目標價由29.41元上調至32.43元。
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