大華繼顯:維持同程藝龍(0780.HK)“買入”評級 目標價18港元
大華繼顯發表研究報告指,同程藝龍(0780.HK)第三季業績穩健,當中收入按季升59.5%至19億元(人民幣,下同),但按年則跌7.2%,符合預期。該行維持其“買入”評級,目標價18港元。
該行指,同程藝龍第三季所有業務,包括運輸票務、住宿預訂及其他業務皆實現雙位數的收入按季增長,但按年則仍分別按年跌7.4%、1.3%及23.6%。另外公司毛利率按年升5個百分點至72%,非通用會計準則淨收入3.72億元,符合預期。
該行將公司今年第四季及明年首季收入預測分別下調6.6%及3.5%;非通用會計準則純利預測則分別下調8.5%及7.9%,並預計公司今年全年盈利為9.29億元,按年跌18%,按季則跌8%。

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