《大行报告》摩通升腾讯(00700.HK)目标价至850元 料快手上市成催化剂
摩根大通发表报告表示,重申对腾讯(00700.HK)「增持」投资评级,上调目标价由655元升至850元,此按综合方式作估值,以反映广告及投资组合业务转强,可受惠旗下产品推展货币化进展。
该行指,腾讯通过成功引入微信频道(视频号),料可以有利於微信的长期货币化前景。在该行的基本情况下情景分析,微信频道将在2024年产生760亿元的广告收入、料至2024年实时串流媒体小费和社交电子商务将具有更大的潜在发展空间。在净利润率假设为40%下,予预测2024市盈率为25倍的情况下,视频号可能为腾讯带来1,100亿美元的增量价值。
摩通预计视频号将帮助腾讯赢得来自现有数字内容运营商的所投入时间,从而带来了更强大的在中国互联网领域的战略地位。该行相信即将到来的快手(01024.HK)新股上市,将成为腾讯的主要催化剂,因腾讯持有快手逾20%股权。
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