You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》瑞銀降心動公司(02400.HK)目標價至85元 股價回調後風險回報吸引
阿思達克 03-30 13:05
瑞銀發表研究報告指,即使心動公司(02400.HK)面對短期毛利率壓力,仍對其專注研發以推動未來增長的策略維持正面看法。活躍遊戲開發投資致去年下半年毛利率惡化,該行料心動公司今年研發開支增長按年大幅放緩。報告料新自家開發遊戲將助力獲取用戶及盈利增長,同時管理層持續對TapTap生態圈的投入將改善用戶粘性。瑞銀並料公司未來將迎來許多估值重評催化劑,包括新自家遊戲推出、TapTap月活動用戶及使用時間增長快過預期等。

瑞銀稱,心動公司股價自2月中旬累跌約50%後,風險回報吸引,料已大致反映短期盈利壓力。該行下調公司今年收入及純利預測分別17%及69%,反映新遊戲潛在押後致遊戲增長放緩;毛利率下滑及研發開支上升。不過,該行料公司明後兩年純利分別升218%及75%,料新自家開發遊戲及TapTap用戶粘性改善將自2022年起改善公司經營及財務表現。以現金流折現率計,瑞銀將心動公司目標價由114元降至85元,維持「買入」評級。

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.
uSMART
Wealth Growth Made Easy
Open Account