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大行評級|瑞銀:上調創科實業目標價至132港元 釋放無線平台價值
格隆匯 02-12 15:04
瑞銀髮布研究報吿指,雖然創科實業的無線平台廣為投資者所知,但認為平台的價值仍不被廣泛清楚。該行的分析建議,售後電池作為平台價值的核心,可能佔創科2028年預計純利40%,基於對蘋果和Eaton的案例研究,該行認為這部分業務應該獲得更高的估值。故此,將公司目標價由121港元升至132港元,重申“買入”評級。該行指,其初步模型反映創科的售後電池銷售在2023年到2028年期間會快速增長至37億美元,支撐收入增長,擴大毛利率,並提高公司的估值。該行表示,現價相當於今年預測市盈率17倍,與公司的歷史平均水平相若,但仍明顯低於有相同平台的公司,認為上升的平台價值並未反映其中。
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