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《大行報告》富瑞下調嗶哩嗶哩-W(09626.HK)目標價至169元 評級「買入」
富瑞發表研究報告指,嗶哩嗶哩-W(09626.HK)(BILI.US)首季收入符合預期,非通用會計準則下盈利好過預期,管理層對全年經營指引維持不變。 該行表示,考慮對嗶哩嗶哩不同業務的未來發展,以及預計到虧損將繼續按季收窄,將對其第二季收入預測下調至52億元人民幣,當中手遊收入料達到9.39億元人民幣,按年跌10%,按季計則跌17%,而廣告業務預期繼續按年增長約25%,增值服務料增長10%。經營虧損有望持續收窄。 富瑞指出,嗶哩嗶哩專注於提升商業化效率及改善盈利能力,期內每日活躍用戶(DAU)人數持續增長,相信DAU增長趨勢、用戶參與度及升商業化效率仍將是未來市場關注重點,維持「買入」評級,目標價從172元降至169元。
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