《大行報告》花旗上調敏實(00425.HK)目標價至29元 評級「買入」
花旗發表研報指,敏實(00425.HK)管理層近日於投資者交流活動上透露,經營狀況好過預期,首五個月收入按年增幅高於全年指引的20%,主要受到電池盒業務收入增長創新高所帶動,期內三大傳統業務的綜合毛利率增長約30%,集團預測電池盒業務全年毛利率應介乎20%至23%。
計及勝預期的收入增長趨勢及可持續的毛利率提升,該行將敏實2023至2025年收入預測上調1%至4%,至211億、251億及292億元人民幣;毛利率預測則上調0.6至0.8個百分點,料達到28.2%、28.28%及29%。
花旗並將敏實2023至2025年純利預測上調8%至9%,達到20億、26億及31億元人民幣,相應將目標價由26元調升至29元,對應2023年預測市盈率約15倍不變,維持「買入」評級。
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