《大行報告》大和下調快手(01024.HK)目標價至150元 評級「買入」
大和發表研究報告,指快手(01024.HK)第二季度業績穩健,強勁的廣告增長推動每日活躍用戶(DAU)、用戶參與度及收入增長均超出預期。該行認為,快手在與字節跳動的激烈競爭中,海外拓展及研發投資將是未來獲得長期增長的關鍵。
大和指出,業績表現向好足以對投資者交代,在現今監管環境不確定下,基於預測2022年市銷率2.3倍,認為風險回報仍然吸引,重申「買入」評級。
報告指,與市場近期對用戶流失的擔憂相反,快手第二季中國DAU僅按季下降0.7%。每天花費時間更升至107分鐘,創歷史新高;用戶參與率亦升至57.9%。
雖然營銷和研發投資的長期回報存在不確定性,大和認為快手現在是中國最具吸引力的主要廣告流量平台之一,由於市銷率跟隨行業表現下調至5倍,估值基礎下調下,目標價相應由350元下調至150元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.