《大行報告》匯豐研究上調快手-W(01024.HK)目標價至100元 評級「買入」
匯豐研究發表研究,維持快手(01024.HK)「買入」評級,指出集團於廣告、電商及直播業務都實現強勁復甦,並通過更好的成本控制降低收入分成比例,因此將2022至2023年收入預測上調1%至4%,盈利預測上調3%至18%,目標價相應由90元提升至100元。
該行指出,今年616購物節成為快手商家廣告消費的轉捩點,外部效果為本廣告定價能力仍然較弱,但按季表現穩定,6月至7月業務收入按年跌幅只有單位數,因此將第三及第四季廣告收入按年增長預測上調至10%及13%。
電商GMV增長勢頭第二季內明顯改善,該行預期第三及第四季GMV將按年增長27%及32%,推動全年電商GMV達到9,000億元人民幣。
匯豐研究又預期,快手國內直播業務可在第四季實現盈虧平衡,指出雖然近期面臨挑戰,但市場份額仍將繼續增長,預測第二季收入將按年升9%,當中廣告收入增長9%,電商GMV則增長25%,
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