《大行报告》摩通下调心动(02400.HK)评级至「中性」 升目标价至42元
摩根大通发表报告表示,下调心动(02400.HK)投资评级,由「减持」降至「中性」,指今年以来股价已累升102%(对比MSCI中国指数同期升17%),主要是市场憧憬TapTap可成内地主要游戏平台之一,但该行相信心动目前估值(相当预测2022年市盈率48倍),已反映市场预期,并高於同业腾讯(00700.HK)(32倍)、网易(09999.HK)(25倍)、Archosaur(10倍)、中手游(00302.HK)(10倍)等。
该行指,心动旗下TapTap撇除网游业务後的月度每名活跃用户(MAU)价值估值达215美元,为虎牙(HUYA.US)及斗鱼(DOYU.US)各5倍及8倍,料未来有估值下行压力,因料TapTap去年MAU增长较市场预期为弱。
摩根大通将心动目标价由38元升至42元,因对其估值延伸至2022年,相当於预测今明两年市盈率25倍及22倍。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.