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《大行報告》中信証券升小米(1810.HK)目標價至27元 明年有望晉身全球智能手機商三甲
阿思達克 09-30 14:33
中信証券發表的研究報告指,繼續看好小米(01810.HK)的「手機+AIoT」戰略和經營落地,雖然今年公司業績受疫情影響,但相信2021年之後的收入、盈利成長空間已打開,且有較強的成長確定性。而今年以來公司股價升幅近87%,近期則跟隨港股及美股科技股回調,減持亦導致市場信心階段性受壓,但認為股價回調帶來配置機會,相信公司在明年有望成為全球前三甚至前二的智能手機製造商,而5G換機及智能手機競爭格局轉變亦是主要的驅動力,維持「買入」評級,目標價升至27元。

該行認為早前美國商務部將38家華為子公司列入實體清單,認為限制可能致關鍵零部件供應商觀望和搖擺,加劇手機供應鏈的博奕。而今年以來小米智能手機向高端化推進,平均銷售單價亦有提升,今年次季公司手機平均銷售單價按年升11.8%至1,116.3元人民幣,估計明年受惠5G換機、產品週期及海外市場份額提升帶動,公司有望躋身全球前三。

此外,次季公司MIUI月活躍用戶按年升23.3%至3.4億戶,當中內地佔1.1億戶,海外亦達2.3億戶,隨著中高端手機增長加上歐洲等海外市場銷售提升,料小米互聯網ARPU有望提升,帶動業績表現。(el/k) ~

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