招银国际发布研报称，鸿腾精密（06088）2025年第一季收入同比增14%，净利同比减38%，低于该行的预期，且仅为该行对2025财年预测的22%及3%。业绩低于预期主要是由于第一季毛利率下降和外汇不利因素。该行认为，该股的交易价格具有吸引力。基于不变的14.1倍2025财年预测市盈率，维持“买入”评级，将目标价从3.86港元下调10%至3.48港元。
该行将鸿腾精密2025-26财年预测每股盈利预测下调10-18%，以反映2025年第一季业绩。该行预计由于关税及宏观疲软和服务器升级放缓，短期内将出现阻力，但该行对人工智能服务器产品需求、印度AirPods产能提升及2025年汽车并购进展保持乐观。
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