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輝立:維持金山軟件(3888.HK)“買入”評級 目標價23.8港元
格隆匯 12-06 17:25

輝立發佈報告稱,金山軟件(03888.HK)第三季度表現符合預期,企業雲收益增加帶動雲業務迅速增長,用户活躍度及付費用户數持續提升促進WPS個人版增值服務收益強勁增長。隨着舊遊戲的更新以及手遊多元化產品戰略的推進,該行預計2020年遊戲業務有望迎來複蘇。

該行指出,目前金山雲不斷拓展遊戲雲、政務雲、金融雲等領域,相信雲業務仍能保持高速增長,完成管理層全年 70%的增長目標難度不大。預計公司2019/2020年收入為78.2億元人民幣/100.6億元人民幣,調整後淨利潤為-14.4億元人民幣/1.87億元人民幣。SOTP目標價為23.8港元,較現價有35.6%的升幅,維持“買入”評級。

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