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《大行》招銀國際升中興通訊(00763.HK)目標價至42元續籲買入
阿思達克 09-03 10:04
招銀國際研究報告指,中興通訊(00763.HK)上半年收入按年升15%至716億元人民幣(下同)。淨利潤則按年下降12%至51億元。產品組合向出貨量更高的伺服器轉移,拖累毛利率及淨利率分別下跌8及2.1個百分點,至32.5%和7.1%。 該行認為,集團在未來幾年有望保持強勁增長勢頭,由AI基礎設施投資周期及國產半導體本土化趨勢所支持。該行維持中興「買入」評級,中興通訊(00763.HK)目標價由26.5港元上調至42港元,相當於預測明年市盈率25倍(與同業估值預測一致),中興(000063.SZ)目標價由32.86元上調至57元人民幣。 招銀國際料中興於2025年至2027年純利各為79.76億、80.35億及95.68億人民幣,按年分別下滑5.3%、升0.7%及升19.1%。
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