德意志银行:看好软银对星际之门项目的投资 上调公司目标价

环球市场播报
Oct 01, 2025

  德意志银行分析师Peter Milliken报告称,软银集团预计将在没有太大资产负债表压力的情况下管理其对星际之门项目的投资。德意志银行估计,软银将为这个与OpenAI和甲骨文公司共同开发的4,000亿美元项目出资1,000亿美元。该行认为,其中80%的资金将通过债务融资,软银将持有该项目一半的股权。Peter Milliken预计,该合资项目将把软银的贷款与价值比率提升至25.9%,但他认为该比率应会保持在该公司的指引范围内,对额外保证金融资或资产出售的需求有限。德意志银行估计,星际之门项目将为软银的资产净值增加约110亿美元。该行维持对软银的买入评级,并将其目标价从20,000日元上调至21,000日元。

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