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《大行報告》摩通下調聯想集團(00992.HK)目標價至9元 評級「增持」
阿思達克 05-25 10:36
摩根大通發表研究報告指,聯想集團(00992.HK)首季收入按季增長6%,且利潤率面臨壓力,表現遜於預期;由於雲服務供應商(CSP)收入疲軟和Eagle Stream伺服器升級延遲,6月季度的基礎設施方案(ISG)勢頭放緩;方案服務業務集團(SSG)收入強勁和具彈性的逾20%營運利潤率。 該行將2024及25財年的盈利預測分別下調12%和9%,以反映電腦產品去庫存時間長於預期和持續IT預算削減的因素,又預料聯想2024財年收入將下降5%,淨利潤約為16億美元。該行認為,該股已從近期高峰回調18%,估值似乎不高,並為未來六個月電腦業務復甦提供了良好的風險回報。因此,該行將目標價由10元下調至9元,維持「增持」評級。
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