大行評級丨高盛:上調中興通訊目標價至25.2港元 預期第四季純利同比增長52%
高盛發表報吿,預計中興通訊第四季營收為350億元,按年持平,按季則增加27%,國內電信網絡需求仍受到資本支出週期放緩的影響,但海外收入強勁成長。該行指,企業ICT(信息與通信科技)產品和消費電子產品仍然是中興的主要增長動力,預期這兩類產品於第四季將佔中興通訊收入的17%和25%,相對於去年第四季的13%和25%。由於非電信業務貢獻增加,該行預期第四季毛利率將輕微下降至38.6%,對比第三季的40.4%。
整體而言,該行預期中興第四季純利較去年同期增長52%至23億元,看好公司在企業和消費電子領域的增長潛力,長遠來説,人工智能基礎設施和人工智能設備的需求將不斷增長。但由於中國的電訊資本支出隨着進入5G投資週期的中後期而放緩,對中興維持“中性”評級,對其目標價由22港元上調至25.2港元。
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