---
title: "《大行》星展升商湯目標價至 2.5 元  維持「買入」評級"
description: "星展銀行將商湯科技的目標價從 2.1 元上調至 2.5 元，並維持「買入」評級。報告指出，商湯上半年營收同比增長 36%，經調整淨虧損收窄 50%，得益於「1+x」策略的成功執行。星展還將 2025 至 2027 財年的營收預測各調升 1%。"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/255432257.md"
published_at: "2025-09-01T08:41:27.000Z"
---

# 《大行》星展升商湯目標價至 2.5 元  維持「買入」評級

> 星展銀行將商湯科技的目標價從 2.1 元上調至 2.5 元，並維持「買入」評級。報告指出，商湯上半年營收同比增長 36%，經調整淨虧損收窄 50%，得益於「1+x」策略的成功執行。星展還將 2025 至 2027 財年的營收預測各調升 1%。

星展發表報告指，商湯-W(00020.HK) 上半年營收按年增 36%，經調整淨虧損收窄 50%，得益於「1+x」策略成功執行，兩項表現均超出預期。該行將 2025 至 27 財年各年營收預測各調升 1%。

星展維持商湯「買入」評級，因其強大的多模態能力對擴展 AI 應用至關重要；目標價由 2.1 元上調至 2.5 元，基於採用更高的 13 倍預測 2026 財年企業價值/銷售額倍數。

### Related Stocks

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

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