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【港股直擊】摩通:非聲學業務前景好轉升瑞聲目標5成 @ 2014-05-13T04: Back Hot News
Keyword:瑞聲
Concept:瑞聲科技非聲 , 瑞聲目標價至45元
大行唱好,摩通升目標價至45元,並升級至「中性」,而瑞銀亦升目標至44元,刺激股價今
摩通指出,瑞聲(02018.HK) +1.500 (3.584%) 沽空 $1.68千萬; 比率 12.117% 將非聲學業務收入占比由20%降至15-20%,因管理層認為20%過於進取,不過相信2014年達到高雙位數是可行的。主席估計次季非聲學業務收入占比達10%,下半年會持續上升,主要受到本地及海外客戶帶動。另外,管理層將全年資本開支指引由原定的12億人幣升至18億人幣,聲學及非聲學業務開支分別占50%,非聲學當中,射頻及天線業務開支將會是下半年增長動力,主因4G用戶提升,而光學的新增產能對盈利貢獻影響有望於2015年體現。手機功能不斷創新,瑞聲一直從中得益,參與非聲學業務或可重新發揮其研發及制造的優勢,尤其推出綜合產品,相信追求新款式及高品質的中國智能電話制造商將推動瑞聲增長,集團期望相關收入比例可由去年11-12%升至20%,該行認為資本開支的提升,證明管理層對前景有信心,該行對集團新業務看法正面,不過仍然覺得集團訂下的目標過於進取,短期利潤走勢存憂慮。目標價由30元上調至45元,評級由「減持」升至「中性」。(雙雙)
《大行報告》摩通升瑞聲(02018.HK)目標價至45元 評級上調至「中性」

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