大行評級|高盛:市場轉向關注快手受惠於AI發展 予其“買入”評級
高盛發表報告指,快手股價今年累升54%,主要由市場對公司人工智能能力情緒改善及行業升浪下估值重評。該行相信可靈大模型變現化非公司實時優先任務,而是強化模型能力、擴大用戶基礎及創造豐富視像,併爲創作者、企業及生態圈建立人工智能代理與生成人工智能平臺,預期可靈爲內容創作者服務已可帶來每月1億元收入。此外,快手整合DeepSeek模型於可靈大模型內,協助用戶產生更多視像及圖片,進一步降低內容產生門檻及AI GC輸出質素。
該行預測快手去年第四季銷售按年升9%,受惠廣告及毛交易總額按年升15%及14%;非公認會計準則(non-GAAP)淨利潤率料爲13.1%,按季升0.4個百分點,non-GAAP淨利潤料47億元。潛在股價催化劑包括今年首季及全年廣告與毛交易總額展望、人工智能發展及今年的盈利率與盈利增長。該行予快手“買入”評級,目標價爲55港元。
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