《大行报告》瑞信:联想集团(00992.HK)季绩佳因录一次性收益 料高基数限制明年PC增长
瑞信发表研报指,联想集团(00992.HK)截至今年9月底止第二财季表现向好,主要受惠约5,100万美元一次性收益,若撇除一次性收益,运营利润将较该行预测低1.5%。
该行指,联想集团对个人电脑(PC)前景乐观,虽然年初至今的PC出货量较高,但集团仍预计2020年PC全球市场规模将达到3亿台,并在2021年可能进一步增长6%至7%。然而,该行认为明年首季以後前景未明,并相信今年高基数下明年的整体PC出货量可能出现按年跌幅。
瑞信称,考虑到联想集团PC业务增长,该行将明年每股盈利预测提高9.6%,但同时被较低的毛利所抵消,目标价5.2元,维持「中性」评级。
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