《大行報告》美銀證券下調百度-SW(09888.HK)目標價至218元 評級「買入」
美銀發表研究報告指,百度-SW(09888.HK)(BIDU.US)第二季度收入增長加快,利潤率提升,核心收入增長14%至264億元人民幣,高於該行預測的12%,其中核心廣告增長達15%。
管理層預計下半年廣告行業復甦趨勢會較明顯,美銀則指出,在國內宏觀經濟仍然疲軟的背景下,認為百度線下垂直領域廣告客戶組合將提供防守性支持,同時憧憬雲端業務發展趨向更加健康,管理層料可繼續錄得盈利,將第三季雲業務增長預期下調至7%,同時維持第三季核心收入將按年增長10%,非通用會計準則下經營利潤料增長3%。
美銀將百度目標價從224元下調至218元,以反映投資業務虧損的影響,並將今年每股盈利預測上調至7.19元人民幣,看好核心業務復甦及人工智能發展潛力,重申「買入」評級。
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