Group 1 - Goldman Sachs expects the revenue of nine covered software companies to improve quarter-over-quarter in Q2, driven by a rebound in customer order momentum [1] - IT spending in certain sectors, such as construction, continues to face short-term pressure [1] - The firm anticipates that Q2 earnings for software companies will remain weak, but improvements are expected in the second half of the year due to enhanced operational efficiency and workforce optimization [1] Group 2 - In the Chinese ERP sector, Goldman Sachs forecasts Kingdee International's revenue to grow by 13% year-over-year to 3.2 billion yuan, supported by improved spending from large enterprise clients [1] - The firm believes that increased productivity per capita will contribute to profit improvement for Kingdee [1] - Goldman Sachs maintains a "Buy" rating on Kingdee, raising the target price from 17.81 HKD to 18.87 HKD [1]
高盛：上调金蝶国际目标价至18.87港元