富瑞首选中国互联网6股予腾讯(0700.HK)目标价455.3港元
富瑞发表研究报告表示,首次将25只内地互联网股纳入研究范围,并首选6只股份,当中阿里巴巴及腾讯(0700.HK)为行业首选股,因拥有领导及执行能力,其次京东、携程,亦拥有毛利率扩张的优势;而美团点评(3690.HK)及拼多多则具有变现能力,该行予腾讯及美团点评目标价分别为455.3港元及78.4港元。
该行表示,内地互联网股的高增长及高估值日子,随着行业冷却而过去,而自2018年以来的估值下调已反映于股价中,该行认为板块主题已转移至第三阶段,即长远价值。
富瑞又指,腾讯及阿里巴巴第三季会有较正面的业绩,而京东及拼多多第四季业绩会较好,虽然市场对行业季度增长有分歧,将会引起短期的波动性,但相信已反映,而投资者将会关注在业绩后,管理层对公司的前景指标,而今年该行看好网上购物、本地服务及旅游等行业,如携程。
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