You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》野村降騰訊(00700.HK)目標價至690元 因降金融科技業務估值
阿思達克 11-13 09:52
野村發表報告指,騰訊(00700.HK)今年第三季業績稍勝市場預期,當中收入及按非通用會計準則計算的盈利增長亦好過預期,主要受惠手遊收入按年強勁增長61%,而該行早前預測增長僅為53%,而期內PC遊戲收入按年升1%亦好過行預期。

該行估計騰訊今年第四季手遊收入將按年升48%,主要考慮到Supercell方面的整合,並估計其2021財年展望維持穩健,因為公司於海外市場推出了新遊戲「英雄聯盟:激鬥峽谷」,加上手遊版的「地下城與勇士」亦料會在明年推出。

在廣告業務方面,該行認為騰訊今年第三季有所改善,按年增速亦由第二季的13%加快至16%,主要受惠媒體廣告復甦,該行指出騰訊視頻在第三季有熱播劇集,加上大品牌廣告商包括汽車、地產等亦有表現,帶動了媒體廣告業務,而公司社交廣告收入亦按年增長21%,增速雖較次季有所減慢但仍大致符該行預測。

野村指出,騰訊在金融科技及雲業務收入按年增長24%,低於該行預測的26%,主要因為雲業務收入受疫情影響項目有所延遲,至於金融科技方面公司透露第三季整體交易量按年增長三成,主要受惠商業支付日活躍用戶及用戶交易額提升,而微信小程序滲透率提升亦有帶動線下交易、及生活電商服務等的表現,越來越多內地初創透過小程序創業,估計將會為小程序及微信支付帶來更多使用場景。

野村稱,上調對騰訊2020及2021財年收入預測均1%,對其訊2020及2021財年每股盈利預測分別降1%及升2%,維持對公司「買入」評級,目標價由703港元降至690港元,主要考慮騰訊金融科技業務的估值有所下調,由原來3,000億美元下調至2,610億美元。(el/w) ~

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account