《大行報告》大摩升同程旅行(00780.HK)目標價至21元 多元化增長
摩根士丹利發表報告指,同程旅行(00780.HK)管理層透露在酒店管理、自營應用程式、出境遊及同程線下旅遊的增長推動下,公司今年市場份額將錄得更大幅增長。
該行預期,在多元化業務增長推動下,預計同程旅行2024年第一季度撇除旅遊的核心OTA業務今年首季收入將按年增長20%至25%,其中酒店業務按年增長10%至15%,交通運輸按年增長20%至25%;首季非通用會計準則下淨利潤料介乎5億至5.5億元人民幣。
大摩憧憬同程旅行今年迎來多元化增長,收入增幅將會更強勁,達到按年增長介乎20%至30%,主要來自於新業務貢獻增加所帶動,而來自核心微信生態的則按年增長約15%。該行將同程今明兩年每股盈測上調各3%及14%,目標價由20元上調至21元,對應2025年預測市盈率12倍。
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