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《大行報告》摩通下調微盟(02013.HK)目標價至20元 評級「增持」
阿思達克 07-21 09:44
摩根大通發表報告指,微盟(02013.HK)股價於7月已下跌了30%,對比MSCI中國爲下跌7%。微盟股價下挫相信是由於監管收緊,令整體中國互聯網行業情緒疲弱;市場就微信若開放予淘寶/天貓對微盟潛在影響的憂慮增加;及市場對集團的增長勢頭,和與重大研發投資有關的SaaS業務的虧損擴大有憂慮。

該行認爲,微信可能對淘寶/天貓開放對集團造成的財務影響難以量化,但預料集團主要的下行風險在於微商城客戶的需求可能受損。

摩通下調微盟股份目標價,由22元降至20元,評級維持「增持」,並大致保持集團今年的收入預測,明年預測則降低5%。該行估計,集團今年會轉爲虧損3.5億元人民幣,主因在研發上的投資沉重,但明年則料可達收支平衡。

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