《大行報告》高盛升瑞聲(02018.HK)目標價至33.8元 管理層對手機鏡頭、利潤率及現金流看法正面
高盛發表報告,指瑞聲(02018.HK)管理層對手機鏡頭、利潤率及現金流看法正面,上調對其目標價,由30元上調至33.8元,維持「買入」評級。該行預期公司手機鏡頭業務盈利能力於今年繼續改善,光學業務去年下半年毛虧率較上半年收窄8個百分點至9%,受益於擴大生產規模及更佳的像素組合。該行對公司今年增長持樂觀看法,基於汽車電子產品及可折疊智能手機鉸鏈等新業務帶來更明顯貢獻,以及未來現金流改善。
該行亦基於公司去年下半年業績,上調今年至2027年各年盈利預測3%至4%,受光學業務毛利率因像素組合升級改善,而推動毛利率提高,以及更佳經營效益推動經營開支比率下降。
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