---
title: "《大行》星展升商汤目标价至 2.5 元  维持「买入」评级"
description: "星展银行将商汤科技的目标价从 2.1 元上调至 2.5 元，并维持「买入」评级。报告指出，商汤上半年营收同比增长 36%，经调整净亏损收窄 50%，得益于「1+x」策略的成功执行。星展还将 2025 至 2027 财年的营收预测各调升 1%。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/255432257.md"
published_at: "2025-09-01T08:41:27.000Z"
---

# 《大行》星展升商汤目标价至 2.5 元  维持「买入」评级

> 星展银行将商汤科技的目标价从 2.1 元上调至 2.5 元，并维持「买入」评级。报告指出，商汤上半年营收同比增长 36%，经调整净亏损收窄 50%，得益于「1+x」策略的成功执行。星展还将 2025 至 2027 财年的营收预测各调升 1%。

星展发表报告指，商汤-W(00020.HK) 上半年营收按年增 36%，经调整净亏损收窄 50%，得益於「1+x」策略成功执行，两项表现均超出预期。该行将 2025 至 27 财年各年营收预测各调升 1%。

星展维持商汤「买入」评级，因其强大的多模态能力对扩展 AI 应用至关重要；目标价由 2.1 元上调至 2.5 元，基於采用更高的 13 倍预测 2026 财年企业价值/销售额倍数。

### Related Stocks

- [00020.HK - 商汤-W](https://longbridge.com/zh-CN/quote/00020.HK.md)

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