《大行》大華繼顯升ASMPT(00522.HK)目標價至92.4元 次季業績大致符預期
大華繼顯發表報告指,ASMPT(00522.HK)第二季業績大致符合預期,營收處於指引範圍的中位,而訂單則因智慧型手機客戶的大宗訂單而大幅超越預期。
報告指,ASMPT訂單勢頭持續改善,可能意味著新一輪資本支出週期的開始,而人工智能相關產品的持續進展,可能在短期內增強投資者信心。維持「買入」評級,目標價由68元上調至92.4元。
另外,大華繼顯將ASMPT 2025至2027財政年度盈利預測分別下調17.7%、13.6%及6.5%,至分別8.01億、15.83億及21.27億港元。考慮到調整收入假設,包括上調AP銷售假設;下調SMT解決方案的銷售預測,以反映上半年復甦較緩慢的因素;下調毛利率假設,部分反映外匯的影響;以及調高開支假設,預期研發支出在可預見的未來仍將保持高位。
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