《大行報告》中金升亞馬遜(AMZN.US)目標價至193美元 季績勝預期
中金發表研究報告指,亞馬遜(AMZN.US)上季總收入按年升14%至1,700億美元(下同),營運利潤增383%至132億元,純利飆升3722%至106億元,意味著攤薄後每股盈利為1元。該行認為,在業務需求增長、倉儲和物流營運效率改善,加上通脹下降帶來的成本下降所推動下,公司上季的利潤大幅改善,業績超出預期。
中金提出,季績顯示,集團零售業務的需求正在美國當前的宏觀經濟環境下復甦,又預計AWS業務將在人工智能技術的推動下持續增長。該行相信公司的利潤率擴張可以持續,並提到集團上季營業利潤率維持在7.8%的高位,淨利潤率維持6.3%,按年顯著上升,預計公司2024財年的利潤將持續改善。
該行指,基於集團各個業務的增長,上調其2024財年收入預測2.2%至6,486億元,料2025財年收入達到7,225億元。該行又調升2024財年的純利預測82%至479億元,而2025財年則為715億元。至於EBITDA,2024財年預測上調31%至1,098億元,而2025財年則料為1,462億元。該行維持公司「跑贏大市」評級,目標價升28%至193元。
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