《大行報告》花旗上調金蝶國際(00268.HK)目標價至35元 評級「買入」
花旗發表的研究報告指,維持對金蝶國際(00268.HK)「買入」評級,並為SaaS軟件股首選,將其目標價由31.6元升至35元。該行指出近期投資者會議中,管理層重申全年雲合約目標接近10億元人民幣(下同),相信雲收入在下半年將進一步加快,主要受惠金蝶雲蒼穹及金蝶雲-星空增長強勁,以及其他雲產品的貢獻,相信2020年公司雲收入增長或稍低於50%。而金蝶雲-星空維持穩定增長,留客率亦逐步自疫情復甦,管理層目標是聚焦於客戶質素及較長生命週期等,期望未來可成為公司的「現金牛」。
該行有信心其雲收入增長可受惠於其金蝶雲蒼穹優勢,將其目標價由31.6元升至35元,雲服務估值基礎以預測未來一年市銷率約26倍計算,較其他全球SaaS同業溢價20%,以反映金蝶定位強勁等。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.