建銀國際:升寶尊電商(9991.HK)目標價至117.5港元 評級“優於大市”
建銀國際發表研究報吿指,預期寶尊電商(9991.HK)去年第四季總成交金額(GMV)按年升21%,收入按年增長19%至33億元(人民幣,下同),低於市場預期;又預期其毛利率按年升199個基點至64%;非通用會計準則營業利潤率擴張205個基點至9.8%;非通用會計準則純利將按年升55%至2.5億元,低於市場預期。該行維持其“優於大市”評級,目標價由114.7港元上調2.44%至117.5港元。
該行指,寶尊電商早前入股愛點擊集團iClick,認為微信生態圈將成為公司的催化劑,寶尊和iClick將在騰訊電商生態系統內共同開發一個私有域流量平台,與iClick的合作為寶尊可快速及高效地擴展微信渠道。該行將其2021-22年收入預測上調6-12%。

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