研報掘金|中金:上調Alphabet目標價至200美元 維持“跑贏行業”評級
中金髮表報吿指出,Alphabet第二季收入847億美元,基本符合該行及市場一致預期,按年增長13.6%,其中Google搜索廣吿業務及雲業務收入超預期;淨利潤236億美元,高於該行預期1%,高於市場預期2.8%,按年增長29%,主要為成本費用控制有效。
該行基本維持對Alphabet今明兩年收入預測不變,基於嚴格的費用管控和降本增效,上調淨利潤預測1.9%及2.8%,至968億與1078億美元。該行將其目標價上調4%至200美元,維持“跑贏行業”評級,對應今明兩年預測市盈率26倍與23倍,有10%的上行空間。當前交易相當於今明兩年預測市盈率24倍與21倍。
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