研報掘金丨申萬宏源:維持分衆傳媒“買入”評級,擬收購新潮傳媒,競爭格局再優化
申萬宏源研究指出,分衆傳媒(002027.SZ)擬收購新潮傳媒,競爭格局再優化。新潮傳媒是戶外廣告開發與運營商,與分衆資源點位重合度較低。分衆併購新潮有望優化整合媒體資源,降本增效,提升運營效率和盈利能力。相較於分衆傳媒的全面性覆蓋,新潮傳媒則側重於戶外視頻廣告業務,將目標鎖定在寫字樓之外的中產社區,通過靈活動態的智能投放方式服務數量龐大的中小廣告主,深耕下遊長尾市場。分衆傳媒受益於中國城市化發展,人口向一二線城市集中。分衆傳媒整合新潮傳媒後,有望獲得更多廣告預算,提升在戶外媒體廣告市場的市佔率。維持“買入”評級。
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