大行評級丨里昂:下調比亞迪電子目標價至38.9港元 增長前景依然穩固
里昂發表研報指,比亞迪電子2025財年第一季淨利潤僅按年增長2%,主要由於其高利潤金屬外殼業務需求較去年高基數有所放緩。公司管理層預計,第二季度金屬外殼收入將按季增長,並對今年持樂觀態度,受汽車業務強勁增長及捷普(Jabil)相關業務盈利能力改善推動。預計關稅影響有限,因有海外生產。
里昂維持對比亞迪電子的“跑贏大市”評級,目標價由51.2港元下調至38.9港元。該行亦認爲,短期內金屬外殼需求疲弱,但比亞迪電子2025至2027財年增長前景依然穩固,受汽車收入強勁增長及Jabil財報推動。該行將比亞迪電子2025及2026財年盈利預測,分別下調9%及8%。
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