You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》美銀證券下調阿裏(09988.HK)目標價至185元 降京東(09618.HK)目標價至320元 下調美團(03690.HK)目標價至222元
美銀證券認爲,華北、華東、華南近日均有重點城市封城,根據2020年上半年的封城經驗,數字娛樂需求在疫情期間將上升,主要是更多人花費時間上網,另一方面,一些付費用戶消費或受負面影響,主要是用戶較多屬低收入人士。 該行假設今年首季及次季共封城四星期,指封城力度加大的重點地區包括吉林、山東、上海和廣東合計佔全國2021年GDP的23%,由於預期未來數季人民收入減少的效應,以及固定成本令利潤跌幅較大,將阿裏巴巴(09988.HK)、京東(09618.HK)、美團(03690.HK)和拼多多(PDD.US)收入下調少於4%。 該行稱,阿裏巴巴擁有國內電子商務以外的收入,本地雲業務和海外電子商務等,減少對總收入的影響,但盈利由於毛利高企將變得更加敏感,將阿裏目標價由188元下調至185元。京東超市產品相信獲更多人購買,但供應和再上架問題或有壓力,最終仍需視乎總銷售額,故京東目標價由324元降至320元。同時,美團的店內及酒店業務較封鎖地區的送餐業務受更大影響,下調美團目標價由236元至222元。該行重申上述股份爲「買入」評級,主要是假設封城沒有延長,相對傳統行業,對線上已有領先地位的股份影響有限。
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.
uSMART
Wealth Growth Made Easy
Open Account