美銀證券:維持微盟(2013.HK)“買入”評級
美銀證券發表的研究報告指出,留意到受內地爆發武漢肺炎疫情影響,宏觀經濟將面對風險,考慮到微盟(2013.HK)
為社交營銷應用的服務供應商,認為公司在企業IT預算上或面對更大的不確定性,而一些小型企業亦有機會結業,該行認為經濟下行如果持續將對其SaaS收入增長帶來影響,因為客户增長或消費亦會有所減慢,特別是在線下層面如零售、酒店及餐飲等相關行業受疫情影響較大。
但該行認為公司的解決方案可助客户提升線上數碼經營、加強線上營銷效率並助獲取線上客户以扶植受疫情擴散影響的線下商户,故估計潛在的需求有助抵銷宏觀環境方面的影響。另外公司亦擴展其產品至中型商户,以減少小型商户的接觸面,該行對公司定位看法維持正面,認為可捕捉到內地商户在社交營銷方面的龐大需求,維持“
買入
”評級,目標價5.4港元。
該行指出在定向營銷方面,其調查顯示相關業務所受影響不大,一來因為客户基礎較多元化,二來是投放在微信及抖音渠道的廣告預算仍維持穩健。
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