交銀國際:維持騰訊(0700.HK)買入評級 目標價843港元
交銀國際發表研究報吿預計,騰訊(0700.HK)今年首季收入1344億元人民幣,按年增24%,與市場預期基本一致,料調整後每股盈利3.83元人民幣,按年增36%,較市場預期高。基於下調投資估值,將目標價由860港元,略下調至843港元,對應2021年市盈率為44倍,維持買入評級。
該行預期,端遊/手遊收入分別按年下跌6%及上升19%,主要受春節假期的拉動,及頭部遊戲的持續熱度拉動;頭部遊戲收入按年增長35%,高於手遊平均收入增幅。廣吿淡季,但受益於音樂廣吿、聯盟廣吿及易車合併,預計收入按年增24%。社交網絡收入預計增28%。
該行又指,金融+雲增速將由於去年同期低基數帶來較大增長,2021年新遊戲豐富,全平台內容資源整合,將更有效提升用户活躍度。

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