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《大行報告》建銀國際下調ASMPT(00522.HK)目標價至74元 上季業績遜預期
阿思達克 10-26 10:39
建銀國際發表報告指,ASMPT(00522.HK)第三季純利按年大跌98%、按季亦挫95%至約1,500萬港元,遠低於市場預期,主要受累於低毛利率、高營運開支、以及錄得4,000萬元重組成本。第四季收入指引3.9億至4.6億美元,以中位數計意味或按年倒退23%、按季倒退5%,亦差過市場預期。 該行將公司今年至2025年的盈利預測,下調介乎15%至60%,以反映利潤率轉弱及下調訂單增長預測,目標價由81元下調至74元,相當於預測市賬率1.8倍,反映對終端需求疲弱的關注。由於鑄造及半導體代工的資本開支前景仍然審慎,以及表面組裝(SMT)需求正常化,維持其「中性」評級。
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