《大行》瑞銀料聯想集團(00992.HK)次財季收入按季增長10% 升目標價至11元
瑞銀髮表研究報告指,聯想集團(00992.HK)截至今年6月底止首財季收入按年增長22%至188億美元,按季比較亦增長11%,好過市場預期,主要受智能設備業務集團(IDG)收入按季增長14%及基礎設施方案業務集團(ISG)收入按季增長4%的帶動。期內ISG業務仍然錄虧損,主要由於低利潤貢獻的AI伺服器出貨佔比提升,爲毛利率帶來約2.3個百分點的拖累。
展望截至9月底止第二財季,瑞銀預測聯想收入將按季增長約10%,預期高端PC及AI PC銷售可有助提升PC市佔率。瑞銀並將2026及2027財年收入增長預測從原先各6%及3%,上調至各10%及8%,維持ISG及方案服務業務集團(SSG)業務較快增長預測,料2026財年可分別按年增長25%及13%,目標價由10元上調至11元,維持「中性」評級。
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