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《大行报告》花旗料腾讯(00700.HK)短期股价将受压 缔造买入机会
阿思达克 08-10 10:42
花旗发表的研究报告指,8月6日白宫公布总统特朗普签署的行政命令,特别指出WeChat自动获取了用户的资讯,而数据所得对美国带来威胁,意味自9月20日起任何与WeChat相关的交易将被禁,行政禁令亦禁止任何美国国民或企业与TikTok、WeChat及其持有人交易,但据《洛杉矶时报》报道,白宫官员澄清禁令不包括腾讯(00700.HK)旗下游戏。该行认为公司股价短期或受压,但考虑到旗下游戏产品线强劲,加上金融科技及云业务增长有机遇,认为腾讯基本面强劲,股价弱势带来了购入机会,重申「买入」评级并为其首选,目标价649元。

该行指出,虽然WeChat去年全球月活跃用户排名第四,但公司在美国的受欢迎程度不及在中国,截至8月5日WeChat在美国的安桌排行榜中仅排第62位,而在iPhone免费应用中仅排第1,485位。而在游戏方面,7月份与腾讯相关的游戏包括是Candy Crush Saga、PUBG Mobile及Clash of Clains等分别在美国游戏榜排行第二、第九及第十位。在投资方面,由於公司早前已有巨额投资於游戏及娱乐板块,潜在投资对象及附属将受到影响。

该行认为假如行政命令仅涉及WeChat,相信对腾讯的财务影响很小,估计12亿月活跃用户中仅2亿至3亿户为海外用户,当中有20%至25%或在美国,而大部分WeChat用户为中国学生及移民,并透过WeChat与亲友通讯,很少涉及商务需求,估计美国广告业务对腾讯财务影响亦很细。

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