《大行報告》招銀國際上調小米(01810.HK)目標價至16.41元 料次季經調整淨利潤增92%
招銀國際發表研究報告指,小米(01810.HK)將於8月下旬公布業績,預測次季收入將按年下跌6%,經調整淨利潤預期增長92%,主要來自於原材料成本下降低、產品結構調整以及成本控制措施奏效,令毛利率有所改善。
展望未來,該行相信盈利復甦趨勢將延續至下半年,而智能手機業務將因新產品推出及渠道補貨而受到提振,重申小米盈利最差的時期已經過去,將2023至2025財年每股盈利預測上調8%至20%,以反映盈利復甦步伐較預期快,目標價相應由15.22元上調至16.41元,維持「買入」評級。
招銀國際又指,電動汽車進一步消息及公司市場份額增長都將是潛在催化劑,預測全年小米手機出貨量將下降7%至1.406億部,2024至2025年則按年回升7%及3%至1.5億及1.55億部。
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