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《大行報告》瑞信下調海爾電器(01169.HK)評級至「中性」 目標價上調至31.51元
阿思達克 08-21 10:19
瑞信發表報告指,海爾電器(01169.HK)上半年收入351億元人民幣,按年下跌5.1%;純利為13.4億元人民幣,按年減少27.3%,稍為低於市場預期。上半年業績意味第二季收入增長12.7%,較首季的下跌22%有顯著改善,但毛利率的壓力持續。

該行表示,因積壓需求減少,預期集團下半年的收入增長溫和,料按年升7%,不過由於線下商店人流恢復,以及卡薩帝(Casarte)品牌的強勁勢頭,經營利潤率跌幅可能會收窄。

該行又相信,海爾智家(600690.SH)私有化海爾電器的計劃非常可能繼續進行,並預期會達到正面協同效應,但兩股近期持續上升,似乎已反映大部分正面因素。

瑞信下調海爾電器股份評級,由「跑贏大市」降至「中性」,目標價由26元上調至31.51元,並輕微調升今明兩年盈利預測0.7%及3.4%,以反映需求復甦更為強勁。

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