《大行报告》杰富瑞:腾讯(00700.HK)执行力强劲 重申为行业首选
杰富瑞发表研究报告,重申对腾讯(00700.HK)首选股的地位,指线上游戏仍是看重的部分,亦看好公司的多元化业务和社交生态圈具防守性的特质。在互联网行业不同领域创新未有停步,包括小程序、微信上的视频等;在消费者及工业互联网所奠下稳固基础亦为长线发展铺路,重申对公司「买入」评级,目标价721元。
该行指出,腾讯多元化业务具强劲执行力,近年推出高质素游戏,及不同产品线的创新令人惊喜,特别是小程序,如小程序中的网站成交额(GMV)於2019年强劲按年增长160%,预期今年亦可维持快速增长,相信腾讯在工业互联网上有稳健基本面,不仅由小程序支持,亦包括云端及支付基建,为商户提供紧密生态圈推动销售转变。另方面,微信中的视频亦进一步强化提供予用户的内容及对商户的价值。
该行又称,预期腾讯第四季收入按季增3%,或按年增22%,其中手机游戏收入料按季跌3%,按年则料升46%,按季倒退主因季节性因素抵销季内新手游推出的影响;电脑游戏方面,则料按季倒退,主因季节性因素及用户转向手游;广告业务方面,该行预期腾讯线上广告按年增长16%;金融科技和商业服务收入收入增长则为按季升9%,按年则升21%。
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