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《大行報告》匯豐研究上調快手(01024.HK)目標價至95元 評級「持有」
阿思達克 11-24 09:59
匯豐研究發表報告,指出教育及遊戲等行業監管持續,同時宏觀放緩令金融企業減少廣告預算,認爲快手(01024.HK)的廣告業務前景面對較大挑戰。 該行將第四季收入增長預測由38%削減至25%,並將2021至2023年收入預測下調2%至4%;按細分市場劃分,將線上營銷收入增長率由72%削減至50%,但相信透過持續的產品優化和內容豐富,中國及海外銷售和營銷效率將有所提高,因此將第四季調整後淨虧損率由38%下調至29%,2021至2023年預測調整後經營溢利率上調1至5個百分點。 匯豐研究表示,仍然擔心短視頻平臺潛在監管不確定性,在線廣告前景及消費趨勢走弱亦影響近期收入增長,加上主播、中介及電商商家競爭將繼續激烈,維持其「持有」評級,目標價則由90元上調至95元。
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