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《大行》高盛升申洲國際(02313.HK)目標價至74元 維持「買入」評級
阿思達克 08-28 12:19
高盛研究報告指,申洲國際(02313.HK)上半年收入略勝預期,但經營利潤遜預期1%,因勞動成本上升導致毛利率及營業利潤率均不及預期。淨利潤較該行預期高6%,因受惠政府補助增加及匯兌收益等因素。 正面而言,該行對公司有序推進的訂單情況感到鼓舞,受惠於從關鍵客戶獲得穩定的份額增長,以及對美國市場銷售敝口較低等。但另一方面,毛利率復甦較預期緩慢,反映國內勞動成本上升無法有效轉嫁予客戶等。 該行將2025至27年淨利潤預測下調0.2%至上調0.6%,目標價由71元升至74元,維持「買入」評級。
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