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《大行報告》野村下調金蝶(00268.HK)目標價至26.5元 評級「買入」
阿思達克 03-01 10:22
野村發表報告,預期金蝶國際(00268.HK)去年業績表現強勁,收入料按年增長24%,雲業務收入更可按年增長46%,正邁向2021年至2023年收入年均複合增長25%的目標。 該行相信,金蝶會繼續將焦點放於其公共雲策略上,並強化可增加客戶黏着度的以訂閱爲基礎的模式,估計集團去年的訂閱年度持續收入將按年增長58%至15.7億元人民幣,於明年更有望升至33.2億元人民幣,代表2021年至2023年的年均複合增長達50%。 野村上調金蝶2021年至2023年收入預測3%至5%,以反映雲業務需求更佳,不過此三年盈利預測則降低30%至75%,主因研發等開支高於預期。該行同時將集團股份目標價由30.7元下調至26.5元,評級維持「買入」。
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