Core Viewpoint - Bank of America Securities reports that Wanwu Cloud (02602) management indicated during the earnings briefing on August 19 that revenue and core profit growth for the fiscal year 2025 is expected to exceed that of the first half of this year [1] Financial Forecast Adjustments - Bank of America Securities has raised the core profit forecast for Wanwu Cloud for the fiscal years 2025 to 2027 by 3.5% to 6.5% due to stable earnings [1] - However, the reported profit forecast has been lowered by 7.5% to 10.5% due to higher-than-expected credit provisioning losses [1] Target Price and Valuation - The target price for Wanwu Cloud has been increased from HKD 22.9 to HKD 24, based on a projected price-to-earnings ratio of 10 times for the fiscal year 2026 [1] - Despite the upward adjustment in target price, the company maintains an underperform rating due to concerns over sluggish growth [1]
美银证券：升万物云目标价至24港元 重申“跑输大市”评级