《大行報告》野村升高偉電子(01415.HK)目標價至29.24元 iPhone後置CCM上軌道
野村發表報告指,高偉電子(01415.HK)去年下半年純利按年跌46%至2,900萬美元,較野村預測低出33%。該行下調對集團盈測,主要是爲其滲透iPhone後置攝像頭模組(CCM)做準備而提高營運開支。該行預計,今年上半年集團的銷售額將按年增39%,又認爲由今年下半年起,集團可能會在iPhone 16 Pro機型的潛望式鏡頭和後置CCM領域獲得25%至35%的市場份額,維持「買入」評級,目標價由18.36元上調至29.24元。
該行預計,2022年iPhone後置CCM的市場價值約爲190億美元,並料於2022至25年間的銷售複合年增長率爲2%。另外,管理層表示,自動LiDAR經歷了較高的定價壓力,並料將在今年持續受壓,但仍預計產品線將維持毛利率10%以上的水平。
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