大行評級|交銀國際:下調海爾智家目標價至36.52港元 維持“買入”評級
交銀國際發表報告,指海爾智家2024年業績表現符合預期。2025年第一季度整體表現優於管理層全年目標。展望今年,面對北美關稅風險,公司已採取產品組合優化、產能調整及供應商談判(供應商承擔50%關稅)等措施,確保2025年北美盈利不受拖累。內銷方面,公司目標2025年卡薩帝收入增長22%。
交銀國際維持海爾智家“買入”評級,基於15倍2025年市盈率,目標價下調至36.52港元。
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