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《大行報告》中銀國際微升福耀玻璃(03606.HK)目標價至51元 末季營收增長將加快毛利率穩健
中銀國際發表研究報告指,預計福耀玻璃(03606.HK)第四季總收入增長將在國內汽車玻璃需求較預期強勁的推動下提早回升。至於海外市場,雖然年初至今增長放緩,但隨著美國ARG市場恢復增長,預期明年收入可能會恢復增長動力。雖然成本環境較預期弱,但由於利用率較高及對代工生產客戶的回扣及折扣較低,該行料公司第四季毛利率將保持36%,甚至按季錄得改善。 該行分別小幅調升2023至25年淨利潤預測1至2%,分別至55億元人民幣、61億元人民幣、69億元人民幣。該行相信,集團第四季營收增長下良好的基本面和明年穩健的前景將支持其當前不高的估值,重申「買入」評級,目標價由50元上調至51元。
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