大行評級 | 中金:騰訊遊戲業務擔憂或緩解 升目標價至406港元
格隆匯12月30日丨中金髮研報指,騰訊(0700.HK)所獲版號緩解了市場對於進口版號發放不確定性的擔憂,而現時版號發放節奏正常化,或對未來遊戲業務的擔憂有所緩解,從收入來看,預計騰訊遊戲流水在短期內仍然承壓,但配合當前的版號正常化節奏,預計新遊內容未來或將逐步落地,對於騰訊遊戲可持續增長能力仍然有信心,上調目標價7%至406港元,予“跑贏行業”評級。
該行表示,看好電商對視頻號長期商業化潛力以及對視頻號整體生態的助力作用,以抖音、快手為借鑑,電商業務不僅與內循環廣吿相輔相成,構成收入增長重要引擎,且電商生態可以進一步促進視頻號內容生態,增強對KOL的吸引力。此外,視頻號電商可以更好地盤活微信生態,除廣吿外,認為小程序相關業務、微信支付等有望隨之一併獲得新的增量。

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