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00268 KINGDEE INT'L
RTNominal down8.830 -0.080 (-0.898%)
Others

09/01/2020 12:00

{I-bank focus}Daiwa raises Kingdee Int'l (00268) to HK$10

[ET Net News Agency, 9 January 2020] Daiwa Research raised its target price for Kingdee
International Software (00268) to HK$10 from HK$9.5 and maintained its "buy" rating.
After finishing 2019 with a share-price rally of 18%, Kingdee is likely to outperform
the market in 2020 by delivering stronger-than-expected results for its cloud business,
said the research house.
Daiwa believes the Cloud revenue likely to accelerate, as Kingdee taps into large
enterprise clients. Kingdee signed 43 clients in 1H 2019 for its Cosmic Cloud, and Daiwa
estimated it had 100 clients by the end of 2019, which will be worth roughly CNY100m in
revenue in the initial year over 2019-20 and CNY50m in recurring annual subscription fees.
(KL)

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