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《大行報告》瑞銀微降心動公司(02400.HK)目標價至84元 評級「買入」
阿思達克 07-20 09:51
瑞銀髮表報告,指對心動公司(02400.HK)的長遠增長前景保持建設性態度,因爲認爲Taptap能從遊戲開發商和分銷渠道之間日益緊張的關係中受益。此外,瑞銀認爲心動的遊戲開發業務與Taptap之間有更多的協同作用。然而,由於缺乏新遊戲和不斷增長的費用,對該公司短期的用戶及利潤率趨勢轉向更加保守。考慮到正在開發的新遊戲和管理層對用戶增長與變現的關注,將2021年和2022年的收入預測分別下調了8%和12%,並預計會有更高的運營費用來加強心動的網絡遊戲研發能力,使Taptap的內容庫多樣化並向海外擴張,目標價由85元微降至84元,評級「買入」。

瑞銀指,心動在7月17日舉辦了2021年的年度發佈會,公司有6款自行開發的遊戲,其中大部份將在今年開始測試,同時還有幾個獨家新遊戲。瑞銀指注意到,留意到來自領先的遊戲開發商的IP新動向,包括LoL手遊和漫威等,認爲Taptap在內地遊戲發行方面的重要性不斷上升。

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