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大和:小米(01810.HK)季績佳但風險與回報率轉弱 降評級至「持有」
阿思達克 11-25 09:18
大和發表報表示,小米集團(01810.HK)公布今年第三季業績強勁,智能手機付運按年升45%﹐令收入高於該行原預期5%,雖料市場短期因小米季績反應正面,但基於小米現估值已反映市場較高期望,因可從同業中提升市場份額,認為其風險與回報比率轉弱,建議投資者等待更佳的介入點。

該行表示,決定將小米投資評級,由「買入」降至「持有」,但上調目標價由25元升至27元,此相當明年預測市盈率33倍及動態市盈率1.3倍,同時調對其2021年至2022年收入預測5至9%,並上調對其2021年至2022年盈利預測1至5%,因智能手機銷售較高。

大和認為,小米現時估值已被市場高估,指其風險與回報比率已轉弱。

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