《大行》星展上調丘鈦(01478.HK)目標價至15元 評級「買入」
星展報告指,丘鈦(01478.HK)中期業績強化該行對其產品組合升級及集中開發非手機鏡頭模組策略的信心。該行料公司下半年業績較上半年改善,受惠於更豐富智能手機組合、持續的指紋識別模組產能利用率復甦,以及非手機鏡頭模組持續擴產,基於更多汽車及物聯網項目進入生產階段。
該行認爲,汽車仍爲公司最清晰中期增長動力,公司與7間領先一級供應商合作,並獲37個汽車或新能源汽車品牌認證。全球僅約三成車輛具備配備超過8個攝像頭的L2+級自動駕駛能力,爲城市/無地圖導航自動駕駛普及提供巨大增長空間。早期LiDAR的參與及向具身機器人/無人機光學領域的擴展提供額外增長潛力。
該行上調對公司今明兩年盈利預測12%及20%,目標價由12.5元上調至15元,維持「買入」評級。
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