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《大行報告》摩通下調同程藝龍(00780.HK)目標價至23元 評級「增持」
阿思達克 08-24 10:31
摩根大通發表研究報告指,同程藝龍(00780.HK)次季表現理想,收入較2019年同期升34%,撇除國際及預購業務則升45%,增長主要來自酒店及交通預訂。期內月活躍用戶較2019年同期增長53%,月付費用戶亦增長21%。 管理層預期第三季收入將達到19億至20億元人民幣,較2019年同期下跌5%至10%,按年比較則持平。雖然指引較市場預測低,但該行認為考慮到現時市況,該目標已算不錯,又指公司預期非國際會計準則下淨利潤將達到3億至3.5億元人民幣,即代表淨利潤率可達到16%至18%。 基於下半年需求較弱,摩通將2021至2023年收入預測下調8%至9%,每股盈利預測下調9%至13%,目標價由25元降至23元,維持「增持」評級。
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