花旗降金山软件(3888.HK)目标价至20港元评级“买入”
花旗发表研究报告,指金山软件(3888.HK)
第二季业绩差过预期并不意外,主要由于手机版剑侠情缘3(JX 3)及其他旧游戏表现较弱。该行料公司第三至第四季表现将继续受压,因为手机版JX 3升级及《FINAL FANTASY Brave Exvius》能见度有限,以及手机版剑侠情缘2(JX 2)延期推出。该行又指,金山软件云业务及WPS软件业务上半年收入继续按年升约100%及逾30%,毛利率稳定。
花旗将金山软件2019及2020年收入预测下调9%及5%,并将2019及2020年经调整经营利润率预测由+5%及+10%,下调至-4%及+6%。该行将该股目标价由22港元降至20港元,评级“
买入
”。
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