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《大行》野村升中興(00763.HK)目標價至39元 評級「中性」
阿思達克 09-02 10:16
野村發表研究報告指,中興通訊(00763.HK)次季收入按年升21%,盈利按年跌13%。集團維持有效支出管理,尤其在研發方面,部分抵銷毛利率下跌的影響。該行認為,集團下半年繼續面對利潤率壓力,並由明年起逐漸恢復,受惠較佳的成本優化。 該行對中興2025年至2027年收入預測上調8.5%至10%,反映AI伺服器需求增強,惟將2025年至2027年盈利預測下調4%至21%,以反映利潤率攤薄,並上調估值基礎,由預測明年市盈率11倍上調至19倍,其H股目標價由28元上調至39元,維持其評級為「中性」。
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