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《大行》高盛下調聯想(00992.HK)目標價至12.48元 續籲買入
阿思達克 05-26 10:58
高盛研究報告指,雖然聯想(00992.HK)今年首季經營利潤率因產地分散至越南而有所影響,以及非現金項目拖累淨利潤按年跌64%,但在PC及伺務器收入增長強勁,以及嚴格控制成本下,非香港財務報告準則淨利潤按年增22%。該行將目標價下調9%至12.48元,維持「買入」評級。 因公允價值損失高於預期,該行將2025財年淨利潤預測下調5%;基於收入及毛利率好過預期,非香港財務報告準則淨利潤預測則調升6%。另外,將2025至28財年淨利潤預測分別下調27%、31%及19%;非香港財務報告準則淨利潤預測分別下調14%、11%及2%;又將研發費用預測調高,以反映集團於生成式AI方面的投入。
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