《大行報告》瑞銀上調敏實(00425.HK)目標價至45元 評級「買入」
瑞銀發表研究報告,指敏實(00425.HK)去年收入跌5.5%,純利跌17.4%,下半年收入76億元人民幣,按年升7.8%,純利升28.8%,毛利率達33.8%,按年增3.6個百分點,2020年業績表現勝預期。
該行指,公司電池盒業務將成為歐洲德國大眾MEB平台及與寧德時代(300750.SZ)合作,同時獲BMW、日產及雷諾訂單,涉及9,570萬元人民幣,相信未來將成重要的增長動力,預期至2025年可貢獻純利25%。
長遠而言,該行預期電池盒業務2023年收入可達30億元人民幣,料公司2021/22/23年純利分別增長42%、27%及18%,目標價由43元升至45元,維持「買入」評級。
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