《大行報告》美銀證券上調小米(01810.HK)目標價至12.5元 評級「中性」
美銀證券發表報告,上調小米(01810.HK)第二季實際營業利潤預測至26億元人民幣,按年增長93%。銷售額料約為650億元人民幣,按年下降7%。由於零部件成本下降和產品組合改善,毛利率將提高0.7個百分點至20%。由於嚴格控制營運成本,實際營運利潤率將按季增長0.3個百分點至4%。該行指,小米高端手機出貨量及高利潤產品正在提升,有助支撐其盈利增長,因此上調小米2023至2025年經調整盈利預測5%至24%,目標價由11.9元上調至12.5元,重申 「中性」評級。
該行看到內地次季智能手機市場需求仍然疲軟,但小米仍可維持出貨量在860萬部,按季持平,反映正穩定發展。
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