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《大行報告》招銀國際下調商湯(00020.HK)目標價至2.3元 評級「買入」
阿思達克 08-30 14:48
招銀國際下調對商湯(00020.HK)目標價,由3.45元降至2.3元,維持「買入」評級。 該行指,商湯優化其業務策略,減少非核心智能城市業務並集中發展其生成人工智能業務,後者收入已佔上半年總收入兩成。該行料有關調整將推動下半年收入按年升18%及釋放經營槓桿。該行基於智能城市業務調整,下調對商湯2023年至2025年收入預測10%至13%,同時基於更嚴格經營開支管理,預期經調整淨虧損由38億、33億及26億元人民幣,降至35億、30億及22億元人民幣。 基於其人工智能基建穩固、強大研發經驗與大模型知識及充足的應用實例,該行認為商湯已預備迎接中國生成人工智能機遇。
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