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《大行報告》摩通下調明源雲(00909.HK)目標價至11元 評級「中性」
阿思達克 03-29 10:43
摩根大通發表報告,明源雲(00909.HK)去年收入按年升17%至12億元人民幣,低於該行及市場預期;公司未有更新今年指引,據1月份指引SaaS收入在今年將增長35%至40%,而ERP收入將下降10%至20%。該行認為,意味著今年的總收入可以增長14%至21%,達到25億元至26億元人民幣;並料非通用會計準則的淨利潤將進一步下降23%,比市場預計低35%以上。 該行下調明源雲目標價由19元至11元,指該股股價今年以來累跌44%,可能是過分調整,但市場仍預計有相當大的下行空間,而且估值不低,因此維持「中性」評級。
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