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《大行報告》星展降中芯(00981.HK)目標價至17元 評級「持有」
阿思達克 02-08 12:12
星展發表研究報告指,由於經濟前景具不確定性,導致客戶對存貨水平管控維持謹慎,預測中芯國際(00981.HK)平均售價和毛利率於2024財年維續疲軟,或需要更長時間才能恢復。 考慮到毛利率下降及收入復甦時間延長,星展將中芯2024財年盈利預測削減59%,料按年下降約45.7%,但憧憬智能手機終端市場需求改善,以及中國人工智能、SoC與汽車晶片等新發展推動下,2025財年盈利可恢復增長,預測削38%至按年增長約86.6%,即達到約9.14億美元。 該行將中芯的投資評級下調至「持有」,目標價降至17元。
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