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《大行報告》里昂下調小米(01810.HK)目標價至12.6元 評級「跑贏大市」
阿思達克 05-22 09:50
里昂發表報告指,小米(01810.HK)首季繼續面臨沉重的宏觀環境壓力,預計首季總收入將按年下降20%至589億人民幣,其中智能手機收入或按年跌25%,受更換周期延長導致出貨量下降24%所拖累。至於物聯網收入因內地電視銷售疲軟和海外物聯網需求而下降,而互聯網收入在遊戲收入增加的支持下保持穩定。 該行指,由於毛利率提高和控制併購,經調整息稅前利潤可能按年下降17%至26億人民幣,其中部分被電動車12億人民幣投資所抵銷。該行將其今明兩年淨利潤預測分別降低2%和4%,目標價由14.6元降至12.6元,維持「跑贏大市」評級。
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