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《大行報告》瑞信下調百度(09888.HK)目標價至318元 評級「跑贏大市」
阿思達克 08-13 14:40
瑞信發表研究報告指,受線上營銷收入按年增長18%所帶動,百度(09888.HK)次季核心收入按年增長27%,較預測高出1%。第三季核心業務增長指引則低於市場預期約4%,相信是由於最近的疫情爆發帶來的不確定性。 期內AI雲業務增長速度由55%提升至71%,反映百度有能力提升其市場份額。該行又指,對比其他科技同業,百度所面對的政策風險較低,管理層亦預計當局對於大數據安全的監管影響不大。 基於廣告增長較緩慢,瑞信將今明兩年經調整淨利潤預測下調5%及6%,目標價由335元下調至318元,維持「跑贏大市」評級,認為估值依然吸引。
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