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花旗:予貓眼娛樂(1896.HK)“買入”評級 預期利潤率持續增長
格隆匯 12-11 14:45

花旗發佈報告稱,貓眼娛樂(01896.HK)的股價在過去兩天中上漲了7.6%,由於年初至今的票房好於預期,予目標價18港元及“買入”評級。

該行稱,展望未來,鑑於2020年農曆新年即將到來,票房可能會帶來驚喜。儘管在2019年票房基礎很高,但電影製作渠道仍然很強勁,而貓眼也參與其中幾部大型電影,將作為發行人和聯合制作人的角色。

該行表示,貓眼娛樂積極從事內容服務業務,該集團已確立了領先分銷商以及聯合制作人的地位,該公司正在與另外3家電影公司進行談判,包括《唐人街探案3》、《中國女排》及《姜子牙》,積極內容服務業務也為廣告業務帶來了更多機會。

該行認為,貓眼業務有95%來自電影行業的表現,票房由於預期應該代表收入增長。因此,該行期望由於補貼持續減少,預期利潤率持續增長。新業務包括電影發行和在線娛樂活動票務等成為自貓眼的新增長動力。

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