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《大行报告》摩通下调微博-SW(09898.HK)目标价至90元 评级「中性」
阿思达克 11-15 15:45
摩根大通发表报告指,微博-SW(09898.HK)第三季收入按年跌3%至4.42亿美元,符合预期,调整後营运利润率达37%,胜於预期;以固定汇率计,该行料微博第四季核心广告收入按年升幅加快至5%,受惠低基数,并对明年广告前景持审慎态度,料集团明年收入增长1%。 该行指,即使第三季收入疲软,其营运利润率连续三个季度扩张,营运支出按年跌9%,研发费用按年跌16%,即使公司第四季利润率略有回落,但未见公司在投资策略有重大改变,并预料明年营运利润率大致上保持平稳。 该行表示,将公司今年及明年收入预测下调1%及6%,明年总收入料按年持平,并将今年及明年非通用会计准则每股盈测分别下调5%及7%,并将其目标价由94元下调至90元,维持其评级为「中性」。
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