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《大行報告》瑞信:小米(01810.HK)獲美法院頒臨時禁令 暫消除資金撤出影響
阿思達克 03-15 09:48
瑞信發表報告表示,小米(01810.HK)獲美國法院頒發臨時禁令,暫停將公司認定為中國涉軍企業的行政命令,令美國人自3月15日起禁買其股份並要在2022年1月14日前沽出的禁令獲暫緩,同時MSCI已宣布不會將小米剔出相關指數,可暫時消除相關資金撤出的影響。

該行指出小米過去一個月公司股份跌17%,加上被列黑名單的憂慮去除後,令小米估值變得吸引,估計公司將繼續受惠智能手機市場份額提升、中高端手機滲透率提升、互聯網收入變現及海外收入擴張等因素,不過就將其2020年每股盈測下調以反映非經營開支較高的影響,對2021年及2022年的預測則大致不變,目標價由34.8元微降至34.3元,重申「跑贏大市」評級。

瑞信估計小米去年第四季收入將差過預期,主要因為受零部件短缺影響去年第四季智能手機出貨量稍低,加上由於產品推出延遲令IoT收入洞少,不過估計受惠經營開支表現及非經營收入等,期內經調整淨利將符預期。

該行維持對小米2021年及2022年智能手機出貨量1.95億台及2.11億台的預測,料平均銷售單價將分別按年升6.5%及3%。另外該行亦料小米IoT及互聯網服務業務今年將分別升36%及25%。(el/w) ~

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