《大行報告》里昂升拼多多(PDD.US)目標價至180美元 中國和海外市場份額不斷增長
里昂發表研究報告指,預計拼多多(PDD.US)去年第四季的業績將再錄得強勁增長,在內地和海外GMV快速增長的推動下,總收入按年增93%至770億元人民幣,經調整淨利潤增18%至143億元人民幣。該行表示,集團已經做好應對消費降級的準備,料其國內GMV將按年增長逾20%,又預期其平均訂單值(AOV)將隨著品牌和大型商品銷售的增加而上升。該行又料Temu的GMV按季增長50%至80億美元。另外,由於集團抑制中國廣告開支以促使海外擴張,其國內利潤率應會維持在30%以上。
該行相信,拼多多強勁的勢頭將在今年持續,其收入及利潤按年分別增長35%及20%,又將2023及24年經調整淨利潤預測提高4%和20%,目標價由167美元上調至180美元,維持「買入」評級。
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