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《大行》瑞銀升思摩爾國際(06969.HK)目標價至14元 維持「沽售 」評級
阿思達克 07-21 09:56
瑞銀發表報告,更新對思摩爾國際(06969.HK)2025至2027年盈利預測各-21%、+1%及+21%,原因包括來自ODM 和HNB業務的較高營收增長;以及競爭加劇導致銷售、一般及行政費用增加。 公司初步業績顯示上半年年營收按年增長18%,該行認為是由於Vape業務復甦,出貨量在美國關稅之前已預先增加。公司預計下半年純利按年下降21至35%,主要由於主要與第四季授出購股權和S&D相關的高支出所致。 瑞銀維持對思摩爾國際的 「沽售」評級,認為其估值豐厚,已經反映了來自Vapes和HNB增長潛力。目標價就由10.7元升至14元。
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