《大行報告》美銀證券下調明源雲(00909.HK)目標價至38元 評級「買入」
美銀證券發表報告指,內地房地產行業的監管影響明源雲(00909.HK)股價表現,因終端市場的低迷可能影響明源雲增長,但該行認為,市場可能對此過度憂慮,相信有關監管對明源雲的影響應該可控。
美銀證券將明源雲2021年和2022年收入預期分別下調5%和7%,以反映監管對終端市場的影響。同時預計公司將繼續投資研發以促進增長,因此將2021年和2022年淨利潤預測分別降低7%和8%。目標價相應由47元下調至38元。即使受監管影響,該行仍預計公司將在數字化需求推動下保持高收入增長,並向國有企業和下游市場擴張,及保持健康的利潤率,重申「買入」評級。
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