《大行報告》花旗降聯想集團(00992.HK)目標價至10.5元 季績勝預期評級「買入」
花旗發表報告指,在有效的經營開支控制及超出預期的非經營性收益支持下,聯想集團(00992.HK)2024財年第三季度業績超出該行及市場預期分別約9%及10%,第四財季業績指引低於市場普遍預期,但管理層強調對2024至2025財年行業復甦、產品更新周期以及人工智能基礎設施、邊緣人工智能等發展保持審慎樂觀看法,預期將支持銷售額增長及利潤率提升。
基於宏觀不確定性及業績可見度有限,聯想2024財年第四季盈利指引1.5億美元較市場預期低約39%。該行預期,業績公布後集團的股價或對較弱業績指引有負面反應,但美銀建議投資者要將不要局限於短期波動,而是應發掘長期增長亮點。
美銀將聯想集團2024至2026財年每股盈利預測下調10%、3%及7%,目標價由10.9元微降至10.5元,維持「買入」評級,指出由於個人電腦及伺服器行業去年或已見底,預期今年可能會恢復增長,相信已做好準備的聯想集團可從中受益。
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