《大行報告》麥格理上調聯想(00992.HK)目標價至11.35元 季績勝預期展望正面
麥格理維持聯想(00992.HK)「跑贏大市」評級,基於業務復甦周期確認,目標價由9.06元上調至11.35元。該行上調對公司現財年至2026財年經營溢利預測4%至7%,以及淨利潤預測4%至9%。
該行預期,公司在庫存已經清理下,現季度設備業務需求將有增長,同期服務業務亦將按年升15%。該行預期經營溢利率按季升0.3個百分點至4.4%,受服務業務推動。
對於下財年,該行料收入按年升6%,基於該行預測明年個人電腦業務升2%及企業伺服器業務升5%。該行料公司服務業務明年增長15%。隨著個人電腦銷售組合改善及服務業務增長,預期經營溢利率升至5.3%,或經營溢利按年升39%,意味經營溢利回復至2022財年水平。
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