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《大行報告》富瑞上調微博(WB.US)目標價至31美元 評級「買入」
富瑞發表研究報告指,微博(09898.HK)(WB.US)去年第四季收入符合預期,非公認會計準則下純利超出預期,憧憬公司將受惠於宏觀經濟復甦。 按固定匯率計算,該行預期微博今年度收入將按年增長10%,較早前預測的增長3%上調,其中線上廣告收入增長相信與總收入相近。按細分市場劃分,該行預計來自阿里(09988.HK)(BABA.US)的廣告收入增長應略快於其他廣告收入。考慮到去年第四季公司重組及營運投資的全年影響,預計非公認會計準則下經營利潤率將維持穩定。 至於今年首季,富瑞則預期總收入按年跌約 6.5%,非公認會計準則下經營利潤率按年持平。考慮到最新的業務發展及好於預期的業績,富瑞維持「買入」評級,並將美股目標價上調至31美元。
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