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大行评级|中银国际:下调金山软件目标价至28.6港元 维持“买入”评级

Major Bank Rating | China International: Lowering the target price of Kingsoft to HKD 28.6, maintaining a "buy" rating.

Gelonghui Finance ·  Aug 21 15:27  · Ratings

On August 21st, Citibank International released research reports and maintained a "buy" rating on Kingsoft. The company's Q2 revenue increased by 13% year-on-year, in line with expectations, and net profit increased significantly, reaching nearly 5.9 times. Network game revenue grew by 20% during the period, mainly driven by the good performance of the revenue stream of Dust White Forbidden Zone. However, the bank pointed out that domestic companies generally reduced their budgets in the first half of the year, which weakened Kingsoft's growth momentum for office software, and Q2 revenue growth narrowed to 6% year-on-year, partially offsetting the good performance of the game business during the period. The corresponding target price was lowered from HKD 39 to HKD 28.6.

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