《大行報告》摩通首予嗶哩嗶哩(09626.HK)「增持」評級 目標價1,600元
摩根大通發表研究報告,首次給予嗶哩嗶哩(09626.HK)「增持」評級,目標價1,600元,指出嗶哩嗶哩電競早前與動視暴雪(ATVI.US)達成戰略合作,取得《守望先鋒聯賽》2021賽季中國地區賽事內容的整體製作與轉播權,有助加強平台內容發展,預期將成長為與Youtube相似的影片娛樂平台,長遠滲透率可達到50%以上。
該行預期,嗶哩嗶哩每月活躍用戶於未來5年可增長成現時的三倍,至2025年達到6億人。摩通指,嗶哩嗶哩目前每用戶變現水平仍較低,目前每用戶僅貢獻約10元人民幣廣告收入(相對微博19元人民幣),預期未來5年將翻倍。
摩通又指,自嗶哩嗶哩在港第二上市後,有近60% ADR已轉換為港股,由於美股及港股的估值差距,加上未來有機會納入滬港通股票名單,預期未來會有更多ADR會轉換為港股。
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