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《大行報告》美銀證券升小米(01810.HK)目標價至15.7元 上季經營利潤符預期
阿思達克 03-20 10:22
美銀證券發表研報指,小米集團(01810.HK)上季銷售額、毛利率、經營利潤率等財務指標均符合預期,經調整淨利潤則較美銀及市場預期分別高出21%及28%。 管理層在業績發布會上強調海外市場的發展機遇,預測今年全球智能手機出貨量將增長1%至2%,並相信小米可實現更高的增幅。美銀指,管理層同時提及在非洲、拉丁美洲及中東市場的增長潛力,雖然集團中國業務發展良好,但考慮到競爭及需求復甦不確定性,目前仍維持相對保守看法,並預期零部件成本上升將為利潤率帶來影響。 去年度小米的電動汽車及新項目營運開支為75億元人民幣,該行估計,隨著SU7上市,今年集團的營運支出將因銷售渠道擴張而增加,重申「中性」評級,並基於指引正面,將今明兩年經調整盈利預測上調4%至7%,目標價由13.8元上調至15.7元。
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