《大行報告》大摩料騰訊(00700.HK)上季收入增長16% 指內地重啓審批遊戲將減市場憂慮
摩根士丹利發表報告,預計騰訊(00700.HK)今年第三季收入按年增長16%至1,453億人民幣,料其非國際財務彙報準則經營利潤按年增長9%至416億人民幣,預期網上廣告收入按年增長12%,以反映對教育和開屏廣告的監管,雲服務提升將帶動金融科技及商業服務收入上升31%。
該行對騰訊維持「增持」評級,目標價650元,指爲行業首選,並對其在2022年至2025年盈利複合增長率達23%預測具有信心,指目前估值吸引。
大摩說,基於網絡遊戲監管,新遊戲推出延遲,及宏觀環境疲弱,預測騰訊今年全年收入增加19%,非國際財務彙報準則經營利潤增長15%。該行估計內地潛在重啓審批遊戲將能減少市場憂慮,廣告受監管和宏觀的影響屬於週期性而非結構性。
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