《大行》高盛降地平線(09660.HK)目標價至13.13元 料今年虧損達27億人民幣
高盛發表研究報告,預測地平線機器人(09660.HK)2025年上半年收入將按年增長58%至15億元人民幣,主要受J6系列芯片出貨量增加推動。由於芯片業務佔比提升,該行估計毛利率料將從去年同期的79%降至65%,但毛利仍可保持30%按年增幅。計及研發費用增長,該行預計地平線上半年經營虧損將達14億元人民幣。
考慮到芯片業務發展或攤薄毛利率,高盛下調地平線2025至2030年每股盈利預測,今明兩年淨虧損預測達到27億及3.56億元人民幣,目標價下調1.5%至13.13元,維持「買入」評級。
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