大華繼顯:首予小米(1810.HK)“買入”評級 目標價21.8港元
大華繼顯發表研究報吿,預料小米(1810.HK)透過推出具競爭力的型號以及向高端市場遷移,將於全球智能手機市場中跑贏其他同業,而其線下渠道在中國快速擴張,市佔率將持續優於Oppo和Vivo。此外,自家的物聯網生態系統將保持其主要競爭優勢,並與旗下其他硬件產品產生協同效應和交叉銷售機會。該行首予“買入”評級,目標價21.8港元。
報吿指,由於芯片短缺和另一手機品牌“榮耀”迴歸市場,小米去年第三季度在中國市場面臨逆風,但其表現依然優於Oppo、Vivo。和三星集等主要競爭對手。而小米亦向世界展示了強大產品競爭力和卓越的執行能力。
報吿又指出,鑑於中低端智能手機型號的品牌差異化有限,小米已建立的海外銷售渠道和品牌形象將為其提供優勢。這導致小米能夠繼續在歐洲、拉丁美洲和印度等關鍵海外地區內不斷擴大的立足點。

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