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《大行報告》海通國際上調小米(01810.HK)目標價至17.5元 第三季業績或強勁支持短期股價上升
海通國際發表報告指,雖然小米近期股價已回升,估計第三季業績強勁,短期仍有上升空間,受惠小米14型號手機批發渠道銷售理想,電動車業務亦較明朗。基本因素方面,庫存健康、成本控制得宜、手機高端化等,都反映公司具有執行能力,計及毛利率強勁及開支輕微減少的情況,將今明兩年盈利預測分別上調20%及3%,目標價由13.4元上調至17.5元,維持「跑贏大市」評級。 該行預期小米第三季收入按年持平,按季上升5%,主要受惠智能手機出貨量改善,IoT業務則表現溫和。集團毛利率有望提升至22%的紀錄高位,估計經調整純利53億元人民幣,按季升3%,按年升152%。
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