《大行報告》匯豐研究上調騰訊(00700.HK)目標價至655元 次季純利高預期
匯豐環球研究發表報告指,騰訊(00700.HK)今年第二季收入及非通用會計準則計的純利分別高於預期2%及3%,與該行的預期一致,手機遊戲收入按年增長62%。除了地緣政治緊張局勢外,該行認為是時候重新關注公司多元化的遊戲產品組合提高了其增長能見度,以及微訊生態圈重新定義廣告業,其集成平台可望提高定價。此外,業務組合轉向更高毛利的非付費業務。
因此,該行將騰訊2020至2022年的非通用會計準則計算的純利預測上調1至22%,以反映廣告平台及新遊戲的強勁成果及有意義的貢獻。目標價由原來的635元上調至655元,此按現金流折現率作估值,維持「買入」投資評級。
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