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微博-SW(09898.HK)止六連升半日挫近9% 瑞信料弱勢持續至明年上半年降目標價
阿思達克 11-21 12:12
微博-SW(09898.HK)H股扭轉六連升勢,今日(21日)輕微低開近0.3%,報121.9元後,早市跌幅跟隨大市急擴,曾跌10.6%,最低見109.2元。半日收報111.5元,跌8.8%,成交稀疏僅6,660股,涉資75.27萬元。 瑞信發表報告,指微博上季收入按季輕微復甦升0.8%,惟按年仍跌25%;受惠有效控制經營開支,經調整經營利潤率達36%,較該行及市場預期高出5%。 考慮「雙11」及世界盃開鑼刺激電商平台,餐飲及3C業務相關廣告開支,該行料末季微博收入按季升2.3%至4.64億美元。不過,受累活動驅動開支後移,料末季經調整經營利潤率按季降至33%。該行料弱勢將持續至明年上半年,明年下半年隨著宏觀經濟改善料回復正增長。 該行降微博明年收入預測至18億美元,意味按年跌3%;考慮毛利率溫和改善預期,維持明年經調整經營利潤率預測,受惠成本減省。該行升微博今年每股盈測,惟降明後兩年每股盈測介乎9%至10%,目標價由168元降至152元,評級「跑贏大市」。
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