《大行報告》大摩下調中軟國際(00354.HK)目標價至6元 評級「增持」
摩根士丹利發表報告指,中國軟件國際(00354.HK)管理層因應基礎業務倒退,將全年收入預測由200億元人民幣(下同)下調至少於200億元,純利預測由9.4億元下調至8億元,已屬該行的悲觀假設情況。不過公司有信心雲智能業務達到增長25%的目標,因為上半年已取得大型國有企業的項目。
管理層雖然下調全年指引,但相信業務正觸底回升,部分是因為華為下半年將會推出5G智能手機,以及上半年公司削減人手,改善盈利能力。管理層預期今年純利增幅跑贏收入增幅,並承諾公司將繼續進行回購。
大摩將中軟國際2023年至2025年各年收入預測,分別下調4.6%、4.4%及4.1%,盈利預測分別下調11.5%、6.9%及6%,目標價下調14%,由7港元降至6港元,評級「增持」。
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