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《大行報告》摩通升騰訊(00700.HK)目標價至850元 料快手上市成催化劑
阿思達克 02-01 11:20
摩根大通發表報告表示,重申對騰訊(00700.HK)「增持」投資評級,上調目標價由655元升至850元,此按綜合方式作估值,以反映廣告及投資組合業務轉強,可受惠旗下產品推展貨幣化進展。

該行指,騰訊通過成功引入微信頻道(視頻號),料可以有利於微信的長期貨幣化前景。在該行的基本情況下情景分析,微信頻道將在2024年產生760億元的廣告收入、料至2024年實時串流媒體小費和社交電子商務將具有更大的潛在發展空間。在淨利潤率假設為40%下,予預測2024市盈率為25倍的情況下,視頻號可能為騰訊帶來1,100億美元的增量價值。

摩通預計視頻號將幫助騰訊贏得來自現有數字內容運營商的所投入時間,從而帶來了更強大的在中國互聯網領域的戰略地位。該行相信即將到來的快手(01024.HK)新股上市,將成為騰訊的主要催化劑,因騰訊持有快手逾20%股權。

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