【野村升金蝶目标价73%至19港元 维持买入评级】金十数据2月25日讯，野村发表报告，将金蝶国际(00268.HK)目标价从11港元上调73%至19港元，反映上涨空间为38.1%，维持买入评级。该行认为金蝶过去几年的SaaS转型取得成果，带来可持续的收入来源和现金流，而由于主要投资周期已经过去，公司可能在2025财年实现盈利。从长远来看，DeepSeek可能有助于加速该公司的AI应用程式开发和用户采用，从而带来更好的盈利机会。同时，该行预期IT支出疲软(尤其是中小型企业的支出)将影响金蝶2024财年的收入增长。该行目前估计金蝶2024财年收入按年增约12%，云端收入按年增18%，ARR增长约24%，2024年净亏损可收窄至9800万元人民币，按年减53%。该行将2025财年收入预测下调3%，盈利预预测下调12%，2026财年收入预测上调0.7%，盈利预测上调7%。
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