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大和:重申寶尊電商(9991.HK)“買入”評級 目標價130港元
格隆匯 12-02 11:47

大和發表研究報告指,寶尊電商(9991.HK)將是內地消費升級發展的主要受惠者。該行維持寶尊電商目標價130港元,並重申“買入”評級。

大和表示,阿里巴巴(9988.HK)對寶尊的奢侈品電商平台Farfetch的投資,對寶尊有利,相信今次的合作或會鼓勵更多中型品牌在天貓開設旗艦店。天貓店的交易總額(GMV)通常較官方的高出4至5倍,這對寶尊的GMV增長有利。

該行認為,雖然關鍵品牌優化將於今年第四季完成,但集團可能將不斷進行品牌優化,但未來對GMV的影響不大,而收入預料將自第四季起加快增長。集團關注IT解決方案和數碼營銷等增值服務為合作伙伴帶來更高的GMV,這亦為長遠更佳的利潤鋪路。

該行預料,集團明年將有更多品牌採用全渠道戰略,從小程序、短片視頻、串流平台等獲得龐大的流量。

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