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《大行报告》花旗下调IGG(00799.HK)目标价至9.7元 评级「中性」
阿思达克 12-24 09:41
花旗发表的研究报告指,将IGG(00799.HK)评级维持「中性」,认为《王国纪元》势头稳定,不过新游戏《奇幻书境物语》及《枪战异世界》可见性仍较低,估计《王国纪元》将贡献今年下半年及明年收入的90%及74%,故认为公司过度依赖这款游戏将有较高风险,目标价由10元降至9.7元。另外该行亦将公司2020-22年的每股盈测分别调整0%、-6%及2%,以反映明年新游戏推出营销开支带来的影响。

该行指出在上半年的业绩会议中,管理层指《王国纪元》营收於今年7月创新高达6,000万美元,而游戏之後亦有稳定表现,据App Annie数据显示游戏在中资手游海外营收榜中排名第七,而8-11月则排第四至第六位,故估计游戏下半年每月营收约为6,000万美元左右。

另外公司之前曾指会抓紧机会加强宣传及推广,故《王国纪元》第二季营收按季急升18%,该行认为公司正进取地吸纳玩家,而情况在下半年将持续,并估计下半年销售及营销开支将为1亿美元。

另一方面,公司於8月在全球推出《奇幻书境物语》,该行留意到宣传步伐稳定,截至12月20日游戏在14个国家的iOS下载榜中排名首一百位,而《枪战异世界》方面公司指在7月份的测试中留意到这类型游戏有市场机遇,经调整後估计将在明年上半年推出。(el/k) ~

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