大行評級|美銀:微降福耀玻璃目標價至62港元 視今年爲公司轉型期
美銀證券發表報告指,福耀玻璃去年第四季按年升17%至109億元,低於行預測6%。毛利率按年跌4.4個百分點至32.1%,基於公司會計改動,把包裝費由推廣開支變爲銷售成本,經調整毛利率按季升0.16個百分點至37.2%。該行下調對公司今年交付及銷售預測2%,並基於會計調整下調今年盈利預測3%。該行視今年爲公司轉型期,銷量增長相對淡靜,基於公司在安徽及福建兩間新廠房仍在施工,以及美國二期廠房產能利用增加。明年銷量增長料再加速,基於充足產能上線。該行輕微下調對福耀玻璃目標價,由62.1港元微降至62港元,維持“買入”評級。
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