标题：CNCR-ITFrom data access to big data; deploying along the value chain
发布日期：2016-03-31 13:08:40
内容： Valuation and recommendation The company boasts first-mover advantage in telecoms operators’ big data business with visible earnings growth. Given BroadTech’s sector leadership, Starcor’s huge client base and their synergies with the company’s main business, we set its TP at Rmb74.12 (57x 2016e P/E) with a target market cap of Rmb7.27bn; initiate coverage with a BUY rating. The stock is currently trading at 42.5x 2016e P/E, lower than its historical average forward P/E with 1x SD at 45x (its historical average forward P/E stands at 57x). Risks Acquired companies’ earnings or their business integration disappoints; slow progress in big data business.
发布日期：2016-03-31 13:08:40
内容： Valuation and recommendation The company boasts first-mover advantage in telecoms operators’ big data business with visible earnings growth. Given BroadTech’s sector leadership, Starcor’s huge client base and their synergies with the company’s main business, we set its TP at Rmb74.12 (57x 2016e P/E) with a target market cap of Rmb7.27bn; initiate coverage with a BUY rating. The stock is currently trading at 42.5x 2016e P/E, lower than its historical average forward P/E with 1x SD at 45x (its historical average forward P/E stands at 57x). Risks Acquired companies’ earnings or their business integration disappoints; slow progress in big data business.
