星展加入看多阵营:联想集团(00992.HK)股价要涨这次来真的
星展发布大行报告,恢复联想集团(00992.HK)目标价7.7港元,恢复买入。
该公司近日发布公告,内容有关公司发行于2024年到期6.75亿美元3.375%的可换股债券。公司通知由于宣派中期股息,因此转换价将根据债券的条款及条件第6(c)(iii)(B)项条件作出调整。转换价(目前为每股7.23港元)将会调整至每股7.13港元,自2020年11月28日(即紧随确定股东享有中期股息权利之记录日期后之日)起生效。债券的全部其他条款均维持不变。
此前不久,瑞银也对联想的股价给予积极的评价。事实上,多家投行已经纷纷上调联想集团的目标价,认可其在良好控制经营开支下盈利的潜在上升空间,“对联想而言,股价启动上涨模式,这或许仅仅是一个开始。”
瑞银发表研究报告指,将联想集团2021-22财年盈利预测提高6至28%,以反映在良好控制经营开支下盈利的潜在上升空间,并将目标价由6.5元上调至7元,维持“买入”评级。
瑞银预期,联想近期会继续跑赢全球PC行业,主要受惠于集团具有强大的售后服务支持,令其市占率有望持续上升。另外,集团采购能力强劲,即使在零部件供应紧张的情况下,未来一至两季集团料亦会处于较佳的定位。
该行又指,随着高瑞消费者产品贡献增加,料有助提升集团平均售价及改善个人电脑和智能设备业务的利润;同时,手机业务亦渐复苏,估计未来一至两季将有望达收支平衡,并于21财年可进一步提升其盈利能力。
另外,公司也重申对数据中心业务的信心,料未来几年市占率增速将可持续跑赢行业水平
有长期研究联想业务的专业人士表示,联想坚实的PC业务质量为其现有估值水平带来了足够的安全边际,而同时,这家公司的内在价值正在发生渐进转变,一旦这种转变越过某个临界点,那么,联想的估值逻辑也将发生质的改变。这一变化将会让联想的股价成长空间迎来乐观预期。
另据,最近的财报数据显示,该股实现营业收入2159.68亿港元,净利润40.53亿港元,每股收益0.34港元,毛利332.78亿港元,市盈率13.43倍。
与此同时,机构评级方面,在所有19家参与评级的机构中,74%的券商给予买入建议,26%的券商给予持有建议,无券商给予卖出建议。
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