《大行報告》大和上調金蝶國際(00268.HK)目標價至16元 評級「買入」
大和發表報告表示,認為金蝶國際(00268.HK)旗下產品是其中一個內地可以使用取代外國軟件商的選擇,按公司指,華為在企業層面選用甲骨文軟件,而目前公司已為其取代100項軟件,雲Cosmic服務收入和雲EAS均可與甲骨文相容,容許企業可以簡易轉換。
該行指,因應目前大部份內地的大型企業均使用SAP或甲骨文的服務,相信公司未來可以從兩公司手上取得訂單,未來金蝶的研發亦會針對現有的缺點優化。
大和表示,金蝶旗下雲收入增長在3月及4月見增加,但維持短期審慎的看法,因目前新冠肺炎疫情仍然是未確定,預期今年盈利受壓,因部份訂單延至明年,不過公司與騰訊的合作則可以加強其分銷網絡,並強化其SaaS業務。
該行稱,降2020至2022年每股盈利預期分別4至29%,以反映研發成本的增加,重申「買入」評級。
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