《大行報告》中銀國際微降小米(01810.HK)目標價至15.5元 評級「買入」
中銀國際發表研究報告指,即使小米(01810.HK)首季收入疲弱,按年下跌19%,但其經調整盈利錄得明顯反彈至32億元人民幣,高於市場預期18%,主因智能手機毛利率反彈及良好的營運支出控制所帶動。
報告又指,由於美元升值和廣告支出疲軟等新的負面因素,市場前景仍不明朗,但相信管理層致力於提高盈利能力和產品高端化將有助於抵銷這些影響。該行仍然看好集團的Mi-13及13S在國內和海外市場的銷售情況,這將提升平均售價和利潤率。
該行略微上調小米2023財年經調整每股盈測1%,並分別將2024及25年度下調3%,以反映首季業績理想但低於預期的廣告銷售,目標價由16.3元輕微下調至15.5元,重申「買入」評級。
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