摩根士丹利发表研报指,看好美图公司的长期增长潜力,基于管理层清晰的发展路径、专注的战略定位、运用生成式AI的能力以及审慎的业务范围,重申“增持”评级,将目标价由14.4港元上调至15.7港元,相当于预测明年动态市盈率1.6倍,以反映管理层将2025年净利润指引上调约11%。 该行指,美图公司目标2025至2028年将总付费比率提升至8至10%,意味着订阅收入有望较2024年的4.7%翻倍增长。同时,公司正重建海外的生活场景产品线,以针对美国及欧盟市场;现有生活场景产品在美国市场的付费比率约达50%。
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