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《大行報告》匯豐研究下調快手-W(01024.HK)目標價至88元 基本面仍穩固
匯豐研究發表研究報告指出,快手-W(01024.HK)將於11月披露第三季業務,該行預期公司日活躍用戶(DAU)增長6%至3.84億;電商交易總額按年增長30%,主要受供應增加及每月買家持續增長的推動。另預期電商外的其他服務收入增長35%,部分受遊戲收入按年下降拖累;廣告業務收入按年增長27%;直播業務收入按年增長8%。 整體而言,該行預期快手季內總收入按年增長20%,毛利率達50%,集團經調整淨利潤為27億元人民幣,較市場預期的24億元人民幣為高。 該行認為,快手近期股價回調主要與市傳大股東騰訊(00700.HK)可能拋售有關,惟公司已澄清騰訊管理層在上半年股東會上已表示近期無意出售其所持有的快手16%股權,亦無與快手商討類似計劃。該行維持對快手的「買入」評級,保持對其預測基本不變,目標價由90元下調至88元,認為公司基本面仍穩固。
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