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《大行報告》瑞銀下調金蝶國際(00268.HK)目標價至22元 評級「買入」
阿思達克 03-17 10:21
瑞銀發表報告,指金蝶國際(00268.HK)2022年全年經常性收入(ARR)低於預期,管理層將其歸因於第四季內的疫情影響,並維持2021至2023年ARR年複合增長率目標訂為超過50%,意味今年ARR增長率料超過55%,反映出公司對客戶的雲端轉型和訂閱模式接受程度充滿信心。 管理層預計中小企數字化升級需求激增,以及金蝶在大型企業市場的快速業務擴張支持下,今年收入增長將超過20%。瑞銀預期,年內公司將發布基於雲原生基礎設施的Galaxy旗艦版,料將有助於維持公司在中型企業ERP市場的領先地位。 瑞銀將其目標價從22.8元下調至22元,以反映去年業績表現,並輕微下調2023至2024年盈利增長預測,維持「買入」評級。
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