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大行評級|美銀:下調比亞迪電子目標價至51港元 重申“買入”評級
格隆匯 03-26 10:39
美銀證券發表研究報吿指,比亞迪電子去年下半年的盈利較該行及市場預測低9%;銷售額則分別較該行及市場預測高出6%和4%,惟毛利率較預測分別低1個及1.2個百分點;營業利潤亦分別較預期低12%及13%。該行預期,iPhone外殼的折舊成本將繼續令集團毛利受壓,但提升自動化率將部分抵銷影響,料隨着折舊自2026年起大致完成,利潤壓力將會放緩。該行下調比亞迪電子2025至27年的盈測14至20%,以反映利潤風險,目標價由60港元降至51港元,重申“買入”評級。
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