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《大行報告》花旗降拼多多(PDD.US)目標價至170美元 料季績穩固
阿思達克 02-06 10:12
花旗發表報告指,拼多多(PDD.US)預計將於3月底公布去年第四季業績,預測季度收入將按年增長97%至785億元人民幣,對比市場普遍預期為增長100%至795億元人民幣,線上市場收入及交易服務收入料分別增長44%及285%,至446億及338.6億元人民幣,而Temu收入則預期達到224億元人民幣。 該行指,Temu下月中起將推行半管理經營模式,並可能將經營範疇拓展到更多產品種類,認為拼多多海外市場增長前景良好,預測全年Temu的GMV及淨收入將分別增長107%及116%,達到310億及143.8億美元,料為公司整體交易額及收入貢獻71%及32%。 花旗憧憬拼多多季績穩固,調整2023至2025年收入及non-GAAP純利預測,基於預測2024年每股盈利約22倍,將目標價由173美元下調至170美元,並維持「買入/高風險」評級。
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