《大行報告》匯豐研究:科網股是支持經濟國策主要受惠者 電商最看好京東 其次是阿里及美團
匯豐環球研究發表中國互聯網行業報告表示,投資者正關注內地科網股價的升勢能否持續,該行認為內地互聯網企業是當局支持實體經濟復甦的主要受惠者,並指內地消費情緒將決定行業的復甦速度,在行業中最看好的首先是電商、其次是線上廣告行業。
該行指,市場憧憬當局對行業包括滴滴出行監管放寬,此消息應會進一步改善近期情緒,因為這可以被市場視為繼國務院總理李克強在5月承諾支持平台經濟後,當局的第一個切實行動。
但值得注意的是,在中共中央政治局會議於4月29日舉行會議之後,市場已經預期當局監管將變得更具建設性,當局潛在出台刺激消費的措施,認為中國互聯網企業可成支持實體經濟措施的受益者,疫情防控後重新開放的物流和供應鏈樽頸應首先使電子商務公司受益。
匯豐研究表示,電商股中看好京東(JD.US),其次是阿里(BABA.US)和美團-W(03690.HK)料電商行業或於今年第二季觸底,消費者情緒決定今年下半年復甦的速度和幅度。在線廣告平台中,基於目標價的上行空間,該行更看好騰訊(00700.HK)(TCEHY.US)、快手-W(01024.HK)和百度(BIDU.US)。該行將百度(BIDU.US)的目標價從187美元輕微下調至186美元,維持「買入」評級。
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