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瑞银升猫眼娱乐(1896.HK)目标价至17.5港元评级“买入”
格隆汇 07-17 11:32

瑞银报告指猫眼娱乐(01896.HK)受票房下跌所拖累,但相信因戏票补贴减少,上半年利润率按年仍扩张7.8个百分点至12.8%,维持对公司长远正面的看法,因公司在内地网上售票市场占有主导地位,而公司近期亦推出重整策略构建成多元化平台,加上腾讯(00700.HK)强化其策略性合作夥伴的地位,向猫眼提供更多资源,相信投资者关注短期风险,而未反映长期的增长潜力。

该行下调对公司上半年及全年戏票收入预期各2%及6%,以反映票房和取票率下跌的预期,并调降上半年及全年每股盈利预期分别3%及4%,但预期中长期EBIT率会有上升,因假设戏票补贴稳定。

该行将公司目标价由16港元升至17.5港元,中期而言看好利润率趋势,维持“买入”评级。

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