《大行报告》大摩上调同程艺龙(00780.HK)目标价至22元 评级「增持」
摩根士丹利发表研究报告指出,同程艺龙(00780.HK)今年3月份收入已恢复至正增长(相对2019年),与2019年同期比较增长10%至15%,主要受酒店订房量回升80%所推动,於清明节假期内增长更达90%,表现较同业优胜。
报告指出,在增值服务支持下,同程艺龙平台酒店订单变现率上升至超过9%,对比2019年同期为8.5%,年度活跃用户人数亦由2019年1.5亿增长至2亿人;线上渗透率及交叉销售率提升。该行认为在积存需求、经济恢复及疫情期间投资带动下,同程艺龙2022年盈利增长可达30%以上。
大摩又指,同程艺龙与微信重续合作协议至2026年,将有利企业价值重估,维持「增持」评级,并将目标价上调至22元。
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