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《大行報告》大和升小米-W(01810.HK)目標價至16元 上季收入恢復雙位數增長
阿思達克 03-20 11:30
大和發表報告指,小米-W(01810.HK)上季業績符合該行預期,由於其他收益和財務收入,經調整淨利潤比市場預期高出32%。公司上季收入恢復雙位數增長,主要受惠於智能手機收入按年增長21%。 大和預計,今年小米手機總出貨量將恢復增長,達到1.61億部,意味按年增長10%。撇除AI及其他新業務投資,該行料其核心經營利潤率將由去年的8.9%改善至今年料10.5%。現時該行對小米的估算未計入電動車未來銷售,倘電動車銷售勝預期將會是估值重評的催化劑。 由於智能手機出貨量的強勁增長勢頭,大和將小米2024至2025年每股盈利預測上調2%至3%。重申「跑贏大市」評級,並將目標價由13.5元上調至16元。
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