《大行報告》大和降明源雲(00909.HK)評級至「跑贏大市」 目標價下調至30元
大和發表研究報告,預計最近內地收緊監管,將延遲房地產行業的數字化步伐,並可能拖累明源雲(00909.HK)ERP業務今年第四季至明年上半年的增長動力,相應將2021至2023年的收入預測削減2%至4%。
該行指出,近期宏觀疲軟也將影響今年第四季至明年上半年SaaS業務收入增長,但考慮到私人領域需求強勁,預期明年下半年至2023年SaaS業務增長前景基本向好。
大和指出,與內地SaaS同業相比,明源雲現價估值仍具有吸引力,將評級由「買入」下調至「跑贏大市」,由於研發及營銷費用可能增加,將2021至2023年的每股盈測削減7%至16%,並將目標價由38元下調至30元。
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