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大行評級|中銀國際:上調福耀玻璃目標價至53港元 重申“買入”評級
中銀國際的研究報吿指,福耀玻璃首季的總收入按年大幅上升25.3%,而純利則按年急升51.8%至14億元,如撇除非經常性項目和外匯虧損,核心盈利按年增逾60%至季度歷史新高16億元,遠高於市場預期。報吿亦指,海外業務表現在2024年首季勝於預期,美國基地的營業利潤按年增加逾一倍,利潤率升至歷史新高14.6%。總體而言,在產能利用率提高和有利的成本環境的推動下,該行認為福耀玻璃今年的盈利前景更加清晰。從中長期來看,預計每輛車的玻璃使用量增加以及智能電動車整合過程中平均售價的擴張,將導致公司每輛車的內容價值持續上升。同時,其多年來的海外(美國)營運能力使其在當前地緣政治影響下比同行更具競爭優勢。該行重申對公司的“買入”評級,將目標價由51港元上調至53港元。
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