《大行报告》野村上调腾讯(00700.HK)目标价至864元 评级「买入」
野村发表研究报告,预期腾讯(00700.HK)2020财年第四季的收入按年增长26%至1,330亿元人民币,较市场预期高1%。非通用会计准则计算的营运利润率或按年扩阔0.8个百分点至26.5%,很大程度是由於毛利率按年扩张1个百分点所致。该行预期非通用会计准则计算的每股盈利为3.43元人民币,按年增长30%,符合市场预期。
另外,该行预期腾讯2020财年第四季的线上游戏收入按年增长33%至480亿元人民币。手机游戏收入按年增长45%,较第三季的61%增速有所放缓,主要是因为腾讯在2019年度第四季整合Supercell的基数效应所致。个人电脑游戏收入或保持稳定,按年增长3%。
该行将公司2020及2021财年的收入预测分别调高1%及调低1%,维持「买入」投资评级,将目标价由原来的690元上调至864元。
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