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《大行報告》光大證券料聯想集團(00992.HK)可受益於AI PC帶動消費者換機需求 有望重塑估值
光大證券發表報告指,鑒於通用服務器行業景氣度下行幅度及持續時間超預期,影響規模效應致毛利率承壓,預計聯想集團(00992.HK)基礎設施方案業務短期仍將處於稅前虧損,下調2024財年淨利潤預測16%至9.57億美元;考慮到高毛利方案服務業務增速略有放緩,分別下調2025和2026財年淨利潤預測5%和8%至13.11億及16.03億美元。 光大證券指,公司當前股價10.96元對應2025財年市盈率13倍,認為公司AI On產品具備先發優勢,將受益於AI PC帶動的消費者換機需求提振;聚焦AI PC軟硬件生態組織,有望重塑估值,維持「買入」評級。
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