《大行報告》傑富瑞:騰訊(00700.HK)已反映未成年人網遊限制因素 料未來受惠新遊戲模式
傑富瑞(Jefferies)發表報告,將騰訊(00700.HK)目標價由680元調低至671元,以反映公司近期業務發展,及考慮到今年第四季開始整合搜狗的因素,維持「買入」評級。
該行預計,騰訊今年第三季收入將按年增長約16%,料其非國際財務彙報準則利按年增長約2.7%,當中考慮到手機遊戲收入弱過預期、部分被海外手機遊戲收入增長所抵銷,季內並無新焦點遊戲推出,公司也在季內加強未成年人遊戲限制。
傑富瑞表示,騰訊股價已經反映了市場對未成年人玩網絡遊戲限制、廣告收入受監管和宏觀不確定因素影響、和教育行業監管憂慮。該行預期,騰訊未來將受惠於其新遊戲模式滿足市場需求、社交平臺生態圈推出新的產品、商業服務毛利率改善。
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