野村:金蝶國際(0268.HK)ERP及星空盈利優預期 升目標至12港元
野村發表研究報告指,金蝶國際(0268.HK)旗下ERP(企業資源計劃)產品及雲業務表現均超出市場預期,雖然雲遷移加速或使今年旗下ERP收縮,令集團的盈利能力受壓,但金蝶在中國SaaS滲透不足的市場下,其清晰的增長路線能為集團帶來長期價值。野村維持金蝶“買入”投資評級,目標價升至12港元。
野村預期,今年金蝶雲板塊能錄得按年68%增長,貢獻整體收入60%,而為反映ERP及金蝶雲.星空優於預期的盈利增長,該行上調其2020-2021年盈利2-11%。野村指,金蝶雲.星空的增長勢頭強勁,料今年能增長55%,而金蝶雲.蒼穹將獲得更多大型企業客户,今年能貢獻2億元人民幣收入。
另外,野村認為,金蝶的強勁現金流能助公司渡過艱難時期,並能加強其競爭力。

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