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交銀:瑞聲(2018.HK)重新聚焦光學潛在增長 削目標價至55港元
格隆匯 03-26 14:01

交銀國際發表研究報告表示,在聲學和光學產品的推動下,瑞聲(2018.HK)去年第四季收入按年增長10%,但略低於市場預期,將其目標價由80港元下調至55港元,維持“買入”評級。

報告認為,公司重新聚焦光學業務的潛在增長,光學前景高於市場預期,雖然MEMS貢獻有限,但視其為增長點,但聲學產品的均價回升似乎仍然充滿挑戰,

報告又指,由於公司今年第一季停工,預計季度收入將環比下降48%,預期第二季將回復正常,第二季可能會由中國智能手機所驅動,並且通常是iphone的季節性淡季,公司需為下半年的產量增長做準備。

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