智通财经APP获悉，耐世特(01316)重挫逾10%，截至发稿，跌10.96%，报5.2港元，成交额9777.63万港元。
德银发表研报指，耐世特上财年财报主要的意外是研发开支高于预期，按年增长19.3%。公司于去年因项目取消录得4,690万美元的减值损失，其中包括1,400万美元的一次性研发费用，以及3,290万美元的销售成本。因此，耐世特2024财年的EBITDA利润率仅按年上升1个百分点至9.4%，低于管理层指引。考虑到低于预期的利润率，德银将耐世特2025财年的净利润预测下调9.2%，目标价由6.6港元下调至6.4港元，给予“买入”评级。
星展发表研究报告指，耐世特去年业绩因为较高的税务开支而不如预期，不过毛利因为北美业务重组及内地增长呈现复苏。去年赢得新业务稳定于60亿美元，包括线控转向技术。该行下调对其今明两年盈测各13%，不过EBITDA利润率复苏料如期推进。该行将目标价由4.5港元上调至7.5港元，维持“买入”评级。
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