《大行報告》大摩降小米(01810.HK)評級至「與大市同步」 目標價24元
摩根士丹利發表報告表示,小米集團(01810.HK)現價已大致反映市佔率增加的利好因素,惟公司面對多個不明朗因素,包括傳華為或分拆或出售榮耀手機業務;印度本地營運商計劃於今年底推出自家品牌低端手機;以及騰訊(00700.HK)今年下半年推出多個高端手遊,增加在分銷上與小米的議價能力,對小米遊戲收益帶來潛在打擊等。大摩認為,小米股價上升後,風險回報屬中性。該行將其投資評級由「增持」降至「與大市同步」,維持目標價24元。
報告指,小米將於11月24日公布季績,預期其第三季非通用會計準則淨利為39億元人民幣,按年及按季分別上升13%及17%。該行又料,小米明年智能手機銷量為2億部,按年升36%。該行輕微上調小米今年盈測2%,明後兩年盈測大致不變,主要反映中國及歐洲、中東以及非洲市佔擴張,惟被金融科技及遊戲收入預測下滑所抵銷。
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