《大行報告》大摩下調閱文(00772.HK)目標價至37元 評級「與大市同步」
摩根士丹利發表研究報告指,閱文(00772.HK)上半年收入按年跌20%,經調整淨利潤按年跌9%,預期各細分業務已見底,並將在下半年復甦,預測下半年收入及經調整淨利潤將增長22%及21%,全年經調整淨利潤則預期增長6%至14億元人民幣。
上半年閱文自有平台收入按年持平,較去年下半年則錄得增長,大摩估計下半年線上業務收入將增長11%,IP業務收入料增長38%,遊戲《斗羅大陸》更新將推動下半年恢復增長。
管理層重申人工智能是集團關鍵發展方向,在創作及翻譯上大有幫助,但大摩預期AI所帶來的經濟效益可能不會在短期內實現,根據中期業績相應下調盈利預測,維持「與大市同步」評級,目標價由41元降至37元。
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