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美银美林下调腾讯(0700.HK)目标价至433港元重申“买入”评级
格隆汇 08-15 13:12
美银美林发表研究报告,指腾讯(0700.HK) 主要业务大致持平,电脑游戏不断成熟、手机游戏复苏,惟金融科技、企业服务未见成为盈利增长动力。公司指下半年压力持续,手机游戏会继续受惠有更多新游戏获批,而金融科技、企业服务等则继续针对提升销量。
该行降2019-21年广告收益年复合增长率预期,由22%降至18%,因其审慎的前景,但其成本与其他互联网公司相若见优化,但相信公司会继续投资研发,同时提升经营溢利预期在25%的增长,升今年每股盈利预期以反映低税率,惟降2020-21年每股盈利预期,目标价由445港元降至433港元,重申“ 买入 ”评级。
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