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《大行報告》法巴:騰訊(00700.HK)價值被低估 合理值上調至597元
阿思達克 07-02 11:53
法巴發表的研究報告指,將騰訊(00700.HK)遊戲銷售預測上調後,其合理估值升30%至597元,主要因為5月份《王者榮耀》表現好過預期,加上公司提供了兩款熱門PC遊戲包括《地下城與勇士》及《英雄聯盟》手遊版的資訊,另外《荒野亂鬥》及《Call of Duty: Mobile》表現亦強勁,認為騰訊價值被低估。

該行將公司2020年線上遊戲銷售增長預測由原先的13%升至23%,2021年該行預計線上遊戲銷售增長則為18%,高於原先預測的13%,主要因為《地下城與勇士》及《英雄聯盟》手遊版將有全年的貢獻,雖然這些遊戲的手遊版或會與PC版競爭,但認為有助增加遊戲時長及變現,並帶動銷售增長。該行估計2020及21年的銷售增長將分別為25%及24%,並將2020及21年的利潤率預測由43.1%及42%升至45.4%及44.2%,主要因為高利潤遊戲、社交及其他廣告貢獻增加。該行估計《地下城與勇士》及《英雄聯盟》手遊版將可帶動未來10年的遊戲收入,但就未調整2021年以後的遊戲收入增長預測。(el/a) ~

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