《大行報告》高盛降快手-W(01024.HK)目標價至75元 上季利潤率勝預期
高盛發表報告指,快手-W(01024.HK)上季收入符合預期,且non-IFRS淨利潤遠超該行和市場預期各36%和30%。業績反映在宏觀不確定性的情況下,快手在持續變現方面的努力和在廣告電子商務市場中獲得份額的能力,並指其上季利潤率勝預期。
高盛指,由於廣告趨勢強勁,成本效率提高,快手已連續4季實現利潤勝預期。該行預計市場將進一步上調對快手盈利預期,目前該行預計快手2024至2025年淨利潤將達到約170億和250億元。該股自1月底以來至今股價上升30%,目前2024年市盈率為13倍,而2024至2025年每股盈利增長率料為67%和43%。維持「買入」評級,目標價由82元降至75元。
另外,高盛將快手2024至2025年收入預期分別下調2%和3%,主要是因為更加嚴格直播合規性方面的措施。
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