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《大行報告》摩通削明源雲(00909.HK)目標價至6元 評級「中性」
阿思達克 08-23 15:23
摩通發表評級報告指,明源雲(00909.HK)上半年收入按年跌約10%至9億元人民幣,較預期低出7%,而整體營運支出按年大幅上漲66%至12億元人民幣,惟包括非現金股票補償(SBC)。 該行指,即使公司表現仍落後同業,惟其核心SaaS按年增21%,呈良好增長,大部分主要受惠於新產品及板塊,但該行指出,公司核心SaaS組合表現較預期疲軟,錄得僅中單位數字增長;該行續指,管理層未有更新全年指引,惟看似難以達標。 該行表示,將公司2022至2024年收入預測下調26%,料在2024年方可扭虧為盈,並將其目標價由11元下調至6元,維持其評級為「中性」。
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