《大行報告》匯豐研究:3M(MMM.US)今年業績指引欠佳 維持「持有」評級
匯豐研究發表報告指,3M(MMM.US)去年第四季收入按年跌4.8%,較預期低1.9%。營運收入升1.8%至16.08億美元,分別較市場及該行預測低2%及8%。營運利潤率擴大135個基點至20.9%,符合預期,而每股盈利升6.8%至2.42美元,較預測高4.5%。由於集團各個細分市場需求持續疲弱,有機銷售增長率為-1.4%,低於預期,但按季有所改善。
該行表示,集團今年指引為有機收入較去年同期持平至2%,經調整每股盈利為9.35至9.75美元,自由現金流轉換為95至105%。以指引的中間點來看,每股盈利目標較市場預期跌3.4%。
該行維持集團「持有」評級及目標價109美元。
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