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《大行報告》瑞銀微升快手(01024.HK)目標價至432元 評級「買入」
阿思達克 03-25 09:37
瑞銀發表研究報告,指快手(01024.HK)股價在過去兩日下跌16%,主因投資者擔心其虧損表現,不過該行維持其線上媒體行業首選,因其電商及廣告業務展望更趨正面,特別是去年第四季錄強勁收入表現之後。瑞銀預期,快手其他服務收入受電商帶動,今年料升224%,商品成交金額(GMV)料亦按年升87.4%至7,142億元人民幣。該行料快手今年廣告收入按年增95%,產品轉型料提振流量亦協力廣告變現。

該行稱,料快手在市場推廣及研發增加投資,並料隨著收入加快增長及收入組合改變,利潤率料改善。瑞銀上調快手今明兩年電商GMV預測各30%,考慮串流收入預測降5%,對其總收入預測大致不變,目標價由430元微升至432元,評級「買入」。

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