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.
《大行报告》野村降腾讯(00700.HK)目标价至690元 因降金融科技业务估值
阿思达克 11-13 09:52
野村发表报告指,腾讯(00700.HK)今年第三季业绩稍胜市场预期,当中收入及按非通用会计准则计算的盈利增长亦好过预期,主要受惠手游收入按年强劲增长61%,而该行早前预测增长仅为53%,而期内PC游戏收入按年升1%亦好过行预期。

该行估计腾讯今年第四季手游收入将按年升48%,主要考虑到Supercell方面的整合,并估计其2021财年展望维持稳健,因为公司於海外市场推出了新游戏「英雄联盟:激斗峡谷」,加上手游版的「地下城与勇士」亦料会在明年推出。

在广告业务方面,该行认为腾讯今年第三季有所改善,按年增速亦由第二季的13%加快至16%,主要受惠媒体广告复苏,该行指出腾讯视频在第三季有热播剧集,加上大品牌广告商包括汽车、地产等亦有表现,带动了媒体广告业务,而公司社交广告收入亦按年增长21%,增速虽较次季有所减慢但仍大致符该行预测。

野村指出,腾讯在金融科技及云业务收入按年增长24%,低於该行预测的26%,主要因为云业务收入受疫情影响项目有所延迟,至於金融科技方面公司透露第三季整体交易量按年增长三成,主要受惠商业支付日活跃用户及用户交易额提升,而微信小程序渗透率提升亦有带动线下交易、及生活电商服务等的表现,越来越多内地初创透过小程序创业,估计将会为小程序及微信支付带来更多使用场景。

野村称,上调对腾讯2020及2021财年收入预测均1%,对其讯2020及2021财年每股盈利预测分别降1%及升2%,维持对公司「买入」评级,目标价由703港元降至690港元,主要考虑腾讯金融科技业务的估值有所下调,由原来3,000亿美元下调至2,610亿美元。(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