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《大行报告》野村上调网易(09999.HK)目标价至173元 评级「买入」
阿思达克 08-17 10:20
野村发表的研究报告指,网易(09999.HK)次季收入及盈利好过预期,期内受营销开支较高拖累,经营利润表现稍逊预期,次季收入按年增长26%,高於市场预期的18%,主要受惠线上游戏及网易云音乐的收入,每股盈利增长32%跑赢该行及市场预期,主要受惠收入较高及非经营收入的带动。

该行将公司2020及21财年的收入预测分别升3%及7%,每股盈测则各升1%,以反映来自线上游戏及创新业务的收入较高,维持「买入」评级,目标价由168元升至173元。

野村估计今年网易第三及第四季线上游戏收入将分别按年升16%及29%,主要因为第三季一般都是线上游戏业务表现较强的季度,但由於今年暑假较短,故或会带来影响,而第四季公司将有两款新游戏推出,估计亦将带动表现,料下半年按非通用会计准则计算经营溢利将按年增长21%,增速较上半年有所加快。(el/a) ~

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