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《大行》匯豐研究升小米(01810.HK)目標價至76.6元 2025至27年純利預測各上調6%
阿思達克 05-28 11:39
匯豐研究發表研究報告指,小米集團-W(01810.HK)今年首季盈利勝預期,淨利潤錄107億元人民幣,遠高於該行預測的100億元人民幣及市場普遍預期的91億元人民幣,相信主要來自於IoT業務增長強勁、且毛利率創歷史新高,以及電動汽車業務毛利率及銷售均價提升的推動。 該行認為集團IoT及電動汽車業務毛利率擴張具可持續性,計及SoC晶片通常具有12至24個月的產品生命周期及高研發投入,預計集團將自2026年起將自研的玄戒O1晶片搭載於中端手機產品,屆時可大幅降低成本。匯豐研究將小米2025至2027年純利預測各上調6%,維持「買入」評級,目標價從73.5元上調至76.6元。
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