《大行》高盛:金山雲(KC.US)強勁收入增長可延續至明年 上調目標價至13.5美元
高盛報告指,金山雲(KC.US)(03896.HK)第二季業績好壞參半,收入及經調整EBITDA高於該行及市場預期,但非通用會計準則淨虧損則超預期。該行相信公司強勁收入增長在下半年及明年維持,基於高增長動力不變,包括人工智能雲收入及小米/金山生態圈收入增長,小米(01810.HK)亦已承諾人工智能投資,如大模型及輔助駕駛等。
該行上調對金山雲今年至2027年收入預測4%至9%及EBITDA預測9%至15%,下調對公司經調整淨虧損預測,同時考慮公司增加債務開支為人工智能投資融資。該行對金山雲ADR目標價由12.7美元上調至13.5美元,評級「中性」。
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