大行評級|麥格理:上調裕元集團目標價至20.9港元 印尼產能擴張將推動增長
麥格理髮表研報指,裕元集團管理層將2024財年銷售增長預測,由按年低雙位數增長上調至16%,預計將由高於90%的產能利用率推動;平均售價則預計按年錄中單位數下跌。麥格理表示,裕元管理層對明年首季度前景持樂觀態度,主要由於大量品牌的訂單出現增長,並料其主要客户訂單在2025財年將大致穩定。
該行預計,公司明年第二季度的增長將由印尼產能擴張所推動,同時料2025財年其製造業經營利潤率將為7%,主要由於持續的費用控制部分緩解新產能增長的負面影響。另外,麥格理將裕元2024及2025財年每股盈利預測,分別上調18%及17%,同時將其目標價由17.2港元上調至20.9港元,維持“跑贏大市”評級。
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