《大行報告》大和上調騰訊(00700.HK)目標價至465元 評級「買入」
大和發表報告,指騰訊(00700.HK)並無企業重組計劃,管理層認為,因為集團廣告業務持續升級,目前尚未完全實現在2018年時重組帶來的所有收益。集團指,雲業務收入增長軌跡將較去年前的水平放慢,但已從去年底的水平起加速,並認為雲業務將是繼支付、廣告和遊戲業務之後中國重新開放的最後受惠者。該行提到,雖然集團在提高支付提成率方面保持謹慎,但其正為線下商家和小程序提供更多增值服務以改善收入來源。
該行預計,集團今年收入增長將回復到雙位數水平,重申「買入」評級,目標價由450元上調至465元,又上調其2023至24財年的盈測1%,以反映可能較低的成本水平。
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